SBI Flags ₹81.66-Crore Fraud, CBI Searches Aaj Ka Anand Papers Directors’ Premises

The Central Bureau of Investigation (CBI) on Thursday conducted searches at premises linked to the directors of Aaj Ka Anand Papers Pvt Ltd in Pune in connection with an alleged bank fraud involving ₹81.66 crore, the agency said.

The searches followed the registration of a first information report (FIR) against the company, its directors and unidentified public servants based on a complaint filed by the State Bank of India (SBI), Mumbai.

According to the CBI, the complaint alleged that the accused were involved in criminal conspiracy, cheating, criminal breach of trust and manipulation of accounts, resulting in a wrongful loss of ₹81.66 crore to the bank. The agency said the alleged irregularities included the suppression or misappropriation of business revenue and the alteration and falsification of books of accounts and electronic records.

The CBI also alleged that funds were diverted through current accounts outside designated banking channels without the consent of consortium lenders. Such transactions allegedly violated the conditions stipulated in the sanctioned credit facilities.

The searches were conducted as part of the agency’s investigation into the alleged financial irregularities. The CBI did not provide further details about the materials seized during the operation or indicate whether any arrests had been made.

The case centres on allegations of financial misconduct involving the company and its directors, with investigators examining the alleged handling of business revenue, the maintenance of financial records and the movement of funds.

The CBI registered the case after examining the allegations raised in the SBI complaint. The investigation is expected to establish the circumstances surrounding the alleged diversion of funds and determine the roles, if any, of the individuals and public servants named in the FIR.

The allegations against the company and its directors are yet to be established in court. The registration of an FIR and the conduct of searches do not, by themselves, establish guilt. The agency said the searches formed part of its ongoing action in the alleged ₹81.66-crore bank fraud case.