CBI vs Chandra Proteco Limited and others — Bank fraud case

Timeline

1. 30 Oct 2026News

   Rs 210-crore bank fraud case: CBI books Chandra Proteco and its directors

   The CBI has registered an FIR against Chandra Proteco Limited and its directors over an alleged bank fraud of Rs 210.13 crore involving five banks. The case follows a complaint by Indian Bank, which alleged that the company obtained loans and letters of credit worth Rs 541.46 crore from a consortium of six banks and diverted funds through associate companies. The agency also conducted searches at premises linked to the directors in Prayagraj.

   The Economic Times

   Explanation in simple terms

   What:

   The Central Bureau of Investigation opened a criminal case against a company for bank fraud.

   Who:

   The Central Bureau of Investigation is the federal agency, Indian Bank is the complainant, and Chandra Proteco Limited and its directors are the accused.

   When:

   Reported on 30 Oct 2026.

   Where:

   Prayagraj, Uttar Pradesh.

   Why:

   The agency registered the case because the company allegedly moved loan money to other businesses instead of using it properly.

   What it means:

   The agency searched properties linked to the directors to look for evidence related to the suspected fraud.

2. 29 Oct 2026News

   CBI raid in Prayagraj: Ledgers seized from company directors' premises in 210 crore bank fraud case.

   CBI raids Prayagraj in 210 crore bank fraud case involving Chandra Proteco directors. Follow Dainik Bhaskar Latest Updates. On Thursday, the CBI conducted raids in Prayagraj in a 210.13 crore fraud case, where loans and other financial facilities worth crores were taken from a bank and the money was siphoned off to other companies. Raids were conducted at several premises linked to three directors of the company, Chandra Proteco Limited.

   Dainik Bhaskar

   Explanation in simple terms

   What:

   The Central Bureau of Investigation searched offices and homes to collect financial records.

   Who:

   The Central Bureau of Investigation is the police agency investigating. Chandra Proteco Limited is the company. Three directors of the company are linked to the search.

   When:

   Thursday.

   Where:

   Prayagraj, Uttar Pradesh.

   Why:

   The company is accused of taking large loans and moving the money into other businesses.

   What it means:

   The investigators now have company ledgers to review as part of their ongoing fraud investigation.