The CBI has registered two separate cases against private companies and others, including theor directors on the allegations of bank frauds causing losses to banks of nearly Rs 240 crore and conducted searches against them.
The agency registered a case on a complaint from State Bank of India (SBI), SAM Branch, Ahmedabad against a Surat-based private company Siddhi Vinayak Logistic Ltd. (SVLL) and others including its directors, unknown public servants and unknown others on the allegations of causing loss of Rs 214.11 crore to SBI, the CBI said.
The cases relates to sanction of term loans to the private company for purchasing new commercial vehicles.