Mumbai: CBI conducted searches at multiple premises linked to five directors of a private company, Furnace Fabrica (India), in Maharashtra and Kerala in connection with an alleged Rs 134 crore SBI bank loan fraud case.CBI alleged that the accused entered into a criminal conspiracy and secured higher credit facilities from SBI by submitting false financial information. They are further accused of diverting and siphoning off bank funds for purposes other than those for which the loans were sanctioned, thereby causing financial loss to the bank.
