The Central Bureau of Investigation conducted synchronized raids across eight locations in Kolkata targeting a corporate fraud network linked to Punjab National Bank. The operation was aimed at three companies: Tantia Construction Ltd, Amrit Feeds Ltd, and Brahm (Alloys) Limited, accused of siphoning off a combined ₹191 crore.
Investigators say the case involves classic corporate fund diversion rather than cyber fraud. Companies allegedly availed Cash Credit and Term Loans meant for daily working capital, then routed the funds through shadow accounts to finance unchecked subsidiaries.
One company is alleged to have sold bank-financed physical assets without informing or securing consent from lenders. CBI teams also seized duplicate ledgers and manipulated accounting books that were reportedly used to mask the equity diversion.
The raids were conducted as a sudden, coordinated strike specifically to prevent directors from destroying duplicate hard drives and paper ledgers before they could be seized.
