India, July 20 -- The Central Bureau of Investigation (CBI) carried out coordinated searches at six locations across four States, West Bengal, Odisha, Tamil Nadu, and Uttarakhand, on July 18, 2026, in connection with an alleged bank fraud of Rs 1,109 crore involving M/S Gupta Power Infrastructure Ltd., a Bhubaneswar-based company.

The case involves the alleged fraud against Canara Bank through various financial facilities extended to the company.

The CBI says the firm manipulated its stock values, inflated trade receivables, and falsified its financial Statements to obtain additional credit from the bank.

It is also alleged that the loan funds were siphoned off and used for other purposes.

The company is accused of evergreening, which...