🔥 Trending CBI Raids Across States in Major Bank Fraud Investigation

The Central Bureau of Investigation (CBI) is actively investigating a significant bank fraud case amounting to Rs 1,109 crore, primarily involving Gupta Power Infrastructure Ltd., a Bhubaneswar-based power infrastructure company ¹²³.

Recent Developments

As of July 2026, the CBI has conducted raids at six locations across four Indian states: Odisha, West Bengal, Tamil Nadu, and Uttarakhand ²⁴⁵. These searches were carried out on July 19, 2026, and resulted in the seizure of various incriminating documents and digital evidence ¹.

Details of the Alleged Fraud

The case centers on allegations that Gupta Power Infrastructure Ltd. defrauded Canara Bank of Rs 1,109 crore ¹⁶. This fraud reportedly involved various fund-based and non-fund-based financial facilities extended by the bank to the company ⁶.

Key Entities Involved

• Accused Company: Gupta Power Infrastructure Ltd. (Bhubaneswar-based power infrastructure company) ¹².
• Primary Victim Bank: Canara Bank, which was allegedly defrauded of Rs 1,109 crore ¹⁶.
• Other Affected Bank: Punjab National Bank has also classified Gupta Power Infrastructure Ltd. as a "Large Defaulter" for non-payment of loans exceeding Rs 809 crore, indicating broader financial distress and potential fraud ⁸.

Investigation Status

An FIR (First Information Report) has been filed in connection with the case ¹. However, as of the latest reports, no arrests have been made ¹. The investigation is ongoing, with the CBI continuing to gather evidence and trace the financial transactions involved ¹. The company is also facing insolvency and recovery cases filed by both Canara Bank and Punjab National Bank ⁸.