India, March 26 -- The Central Bureau of Investigation (CBI) has booked a metal firm in an alleged Rs.61.13-crore bank fraud case after it defaulted on loans taken from a consortium of banks led by public sector Union Bank of India (UBI). It also allegedly diverted loan proceeds for non-sanctioned purposes.

Transactions made by the accused firm, Chhattisgarh-based Laxmiroop Pvt Ltd, with the consortium from 2023 to 2025 are under the CBI's scanner. The consortium allegedly defrauded by the firm includes Federal Bank.

Due to non-payment, the firm's loan account was classified as a non-performing asset (NPA) on February 26, 2025, by UBI. The loan account was further reported as "fraud" by Federal Bank on June 16, 2025, to the Reserve Bank...