Mumbai: The Central Bureau of Investigation (CBI) has initiated a probe against a private firm for allegedly causing loss of over Rs 16 crore to the State Bank of India.

Complaint by SBI

According to the CBI, a complaint was received from Kumar Parimal Prem, deputy general manager, SBI, Administrative Office, Pune, alleging that a Pune-based borrower company, a registered partnership firm, which is engaged in real estate and construction activities, and its partners in criminal conspiracy with unknown bank officials and private persons, cheated the bank to the tune of Rs 16.35 crores by fraudulently availing credit facilities.

Modus Operandi

"The complaint discloses that the accused persons entered into a criminal conspiracy during the period 2017 to 2023, with the intent to cheat SBI

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