CBI Raids 5 Locations of this Company in Bank Fraud Case

CBI investigated Delhi-based packaging company Rave Scans Pvt Ltd in five locations on Friday after registering the FIR for a Rs 69.33 crore bank syndicate fraud, officials said. 

The CBI responded to complaints from foreign banks in India alleging tampering with the company's finances. This includes diversion of funds to fraudulent banks, tampering with ledgers, and forgery in account books between 2011-16, officials said.

According to FIR, the CBI conducted an investigation on Friday on the premises of a former director accused of the company across Delhi, they said.

The bank claimed that the company and its directors (Rakesh Bhatnagar, Bhavnesh Kumar Kanwar, Premnath Arora, and Anuradha Bhatnagar) have filed various fraudulent acts, resulting in an unreasonable loss of Rs 69.33 crore and a corresponding unreasonable profit to the bank. Authorities have charged the defendant with criminal conspiracy, fraud, and anti-corruption law provisions, officials said.