New Delhi The CBI on Tuesday launched a massive crackdown on alleged bank loan defaulters by carrying out searches at over 61 locations in 18 cities after registering 17 cases of swindling of funds to the tune of ₹1,139 crore, officials said. This is the 16th FIR against Mehta accusing him of allegedly defaulting on ₹202 crore drawn from Exim Bank. The searches in Mumbai also covered two other firms booked in separate FIRs on a complaint by the Union Bank of India. Three FIRs pertaining to alleged irregularities in disbursal of housing loans in a Union Bank of India branch in Bhubaneswar were also registered by the agency in which senior bank officials have been named as accused. The loans resulted in the loss of ₹24.17 crore to the bank, the officials said, adding that searches were conducted at nine places in Odisha.

Source: The Hindu July 02, 2019 10:25 UTC