CBI conducts searches in Kolkata in bank fraud case

Kolkata/New Delhi, Jan 15 (PTI) The CBI on Thursday conducted searches at different places in Kolkata in connection with a fraud case against a mining company which allegedly caused a loss of Rs 7.25 crore to UCO Bank, officials said.

The searches were conducted at the residence of a businessman in the New Alipore area, and in New Town near the city, among other places, they said.

Five teams of the agency carried out searches on the fifth floor of a multi-storeyed residential complex located at Plot No. 28 in New Alipore area of the metropolis.

The premises is understood to be linked to Swati Mining Company promoters and guarantors Amit Kumar Kejriwal and Sarwan Kumar Kejriwal.

"The coordinated operation aims to gather documentary evidence and other materials relevant to the investigation," an officer said.

The CBI had registered a fresh case on December 30, 2025 against the company, its directors Girija Thakur and Samrat Chakraborty, and promoters and guarantors Amit Kumar Kejriwal and Sarwan Kumar Kejriwal on a complaint from the UCO bank.

The company is already facing CBI investigation in a similar bank fraud case registered on the complaint of Bank of India.

In the UCO Bank case, the FIR has alleged that the accused caused a wrongful loss of Rs 7.25 crore to the bank which was the outstanding balance amount in its account as on date of NPA-- June 30, 2019.

The company was engaged in the business of wholesale trading of iron ore and various other minerals and was availing various credit facilities from the UCO Bank since 2004, it said.

The accused misused the working capital facility for the purpose other than for what the same had been sanctioned by the bank by diverting the amount to certain parties grouped under sundry creditors which were not actual creditors.

"It also diverted huge amount to group companies or companies which were connected to the said borrower," the FIR alleged.

The primary objective is to trace the flow and end-use of the funds allegedly involved in the financial fraud, the officer said.

A large number of personnel from the central forces accompanied the CBI officers to ensure that there is no disruption in the operation, he said. PTI ABS SCH ABS KVK KVK