New Delhi [India], March 11 (ANI): The Central Bureau of Investigation (CBI) on Friday registered a case against a private company based in Madhya Pradesh's Indore over alleged bank fraud of Rs 33.09 crore.

The accused named in FIR has been identified as Krishidhan Seeds Private Limited, Indore (Madhya Pradesh) and its Directors namely Jainarayan Pusaram Karwa, Sushil Karwa, Mukund Karwa and other unknown persons/unknown public servants.

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The FIR includes the name of directors, unknown persons and unknown public servants on a complaint from the Bank of India.

A statement released by CBI mentioned that it was alleged that the accused entered into a conspiracy among themselves and cheated the Bank to the tune of Rs 33.09 crore (approx) by way of siphoning and diversion of the Bank funds, provided by way of Cash Credit (CC) facilities and term loan during the period 2013-2014.

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Several teams of CBI conducted searches at nine places located at Indore (MP), Pune and Jalna (Maharashtra) at the premises of the accused including the said private company which led to the recovery of incriminating documents/articles.

An investigation is underway into the matter. (ANI)

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