CBI has registered an FIR against a Mumbai-based firm and its top executives for allegedly cheating Canara Bank of Rs 212 crore. CBI has named M/s IL&FS Energy Development Company Ltd, its MD and directors.
The company allegedly diverted and siphoned the funds through associate entities instead of using them for sanctioned purposes, causing an estimated wrongful loss of Rs 212.3 crore. Searches were conducted in Delhi, Mumbai and Noida.
