Archive · 27 Oct 2025
CBI Investigates ₹11.37 Crore Fraud at Canara Bank
Imagine a company that was supposed to use a loan from Canara Bank to build and fix internet cables.
Instead, the people running the company took the money and used it for other things, like maybe buying things they shouldn't have.
They also lied about how much money the company had.
Because of this, the bank lost over 11 crore rupees.
Now, the CBI, which is like the police for big financial crimes, is investigating the people involved.
They are accused of taking the money dishonestly and cheating the bank.
CBI is probing a ₹11.37 crore fraud at Canara Bank.
A partnership firm is implicated in the alleged fraud.
The firm was involved in optical fiber laying and maintenance.
The accused diverted loan amounts and misappropriated funds.
The loan account was declared a non-performing asset (NPA) in April 2023.
- Who
- CBI is investigating three individuals associated with a partnership firm.
- What
- A fraud of ₹11.37 crore at Canara Bank is under investigation.
- When
- The fraud occurred between 2022 and 2024; the loan account was declared NPA in April 2023.
- Where
- Mumbai, India
- Why
- The accused allegedly diverted loan amounts, misappropriated funds, and manipulated accounts, causing a loss to the bank.
- Bank Involved
- Canara Bank
- Amount of Fraud
- ₹11.37 crore
- Accused
- Three persons running a partnership firm
- Nature of Business (Firm)
- Optical fibre laying and maintenance
- Loan Sanctioned
- ₹11.71 crore
- Date Loan Account Declared NPA
- April 2023
- Charges
- Criminal misappropriation, cheating, criminal misconduct