New Delhi, Aug 3 (PTI) The CBI has recovered over Rs 50 lakh in cash during searches on Monday from one of the accused in a bank-fraud case against a real estate firm, who was recently booked by the central probe agency, officials said.

The agency has conducted searches at 11 locations in multiple cities after registering a case against the Nashik-based Sun Infrastructure Limited for causing a loss of around Rs 23.86 crore to the State Bank of India, they said.

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The searches were carried out in Mumbai, Nashik, Bengaluru and Nagpur, the officials said.

It is alleged that the company was involved in financial bunglings and diversion of the funds for purposes other than the loan conditions, they added.

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(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)