Bhopal: The CBI on Wednesday conducted raids at the premises of Central Bank and State Bank of Hyderabad officials. The probe agency also raided more than a dozen centers of four builders in the state capital.

According to sources in the CBI, the scam was reported by the vigilance team of the State Bank of Mysore.

Officers, builders and brokers have been booked on charges of cheating and committing loan fraud to the tune of Rs 7 crore.

As per the information, Tirupati Constructions, Prabhar Construction, Aaditya Construction and Sai Ram got loan sanctioned on a large-scale. When they failed to pay their installments on time, the bank launched an investigation into it and unearthed the scam.

The CBI later registered the case and raided their premises. A case was registered against a senior official of the Central Bank on charges of hatching conspiracy. The scam has also some links in Nagpur.

Later, it was revealed that in the name of suppressing the issue a bank officer goofed up an amount of Rs 32 lakh.

It was also said that this case had a link with the suicide of Arun Tiwari, Personal Assitant of Hoshangabad Inspector General of Police Vijay Katiyar. There were also reports that some people tried to suppress the matter through Tiwari.

Meanwhile, the CBI officials claimed to have seized important documents from the premises of bank officers and builders during the raid.

(JPN/Bureau)