CBI raids multiple locations in Kolkata over Rs 1,000 cr bank fraudThe CBI conducted raids in Kolkata on offices and residences of promoters of a finance company over an alleged Rs 1,000 crore bank fraud. “The searches are being carried out in several locations, including Alipore, in connection with a case of large-scale bank fraud involving a public sector lender,” a CBI official said. The CBI official said the alleged diversion of funds took place between 2014 and 2020. However, the bank alleged that both companies were violating the loan agreement and defaulted on the timely repayment of instalments. In 2023, two senior officials of the public sector bank concerned lodged a formal complaint with the CBI in connection with the Rs 1,000 crore fraud.