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Now Union Bank lost crores! CBI registers case against private company and directors; raids at many places

Now Union Bank of India has lost crores of rupees. The Central Bureau of Investigation (CBI) has registered a case against a private company and its directors in this case. It is being told that UBI has been defrauded to the tune of Rs.134.43 crore. According to the information, CBI has established High Pressure Technologies Pvt. Ltd. (which includes all the directors and unknown employees of the company) have been booked. All of them have been accused of causing loss of Rs 134.43 crore to Union Bank. In this connection, the CBI team has also raided many places in Mumbai.

According to some media reports, in the FIR lodged in this case, it has been said that the company and the officials had taken a loan of crores of rupees from the bank. This loan was used for wrong benefits. After registering the FIR, a CBI team on Friday morning conducted simultaneous raids at 6 different locations of the company and its owners in Mumbai. It is being said that in this raid, the CBI has also got many important documents. However, no confirmed information has been revealed about these documents yet. However, now the CBI team is conducting further in-depth investigation in this matter.

The CBI has taken this action after receiving a complaint from Union Bank of India. It is alleged that the private company, through its directors and guarantors, embezzled the bank money and used the money here and there to get undue benefits for those works for which loan was not taken.

It is also alleged that the intention of the company was to defraud the bank by remitting the money through other banking channels to such other places in contravention of the terms and conditions of loan sanction orders. It is being said that soon the CBI can also call people associated with the company for questioning in this case.


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