India, July 5 -- The Central Bureau of Investigation (CBI) on Saturday searched multiple locations in Maharashtra and Gujarat in connection with two bank fraud cases involving an alleged loss of nearly Rs.232 crore to public sector banks, recovering documents and digital evidence during the operation.

The searches were conducted at the residences of directors and offices of M/s R L Jewels Ltd and M/s Ashapura Garments Ltd.

The first case was registered on a complaint by State Bank of India against R L Jewels Ltd, its directors and unknown public servants over an alleged fraud of Rs.103.58 crore. Investigators alleged the accused misappropriated and diverted bank funds through accounts with other banks and falsified financial records.

T...