CBI conducts raids in Delhi, Faridabad in bank fraud case  

The Central Bureau of Investigation (CBI) on Thursday carried out searches at two locations in Faridabad and Delhi after registering a case against Vibha Overseas Exim Pvt. Ltd. in an alleged bank fraud of Rs 166 crore, officials said.

A senior CBI officer said the agency was carrying out searches at the residential premises of Alok Gupta and Vibha Gupta, both Directors and Guarantors of the company.

The official said that the agency registered a case against Vibha Overseas Exim Pvt Ltd and the Guptas for cheating the Union Bank of India of Rs 166 crore by giving forged documents.

The official said that the complaint against Guptas and the company was filed by the Union Bank of India after the account turned NPA.-IANS