States » SouthPosted at: Sep 19 2026 8:43PM


CBI raids in Rs 48.48 crore Chennai PNB bank fraud case at Hyd, Odisha on Bengaluru firms

Chennai, Sep 19 (UNI) The Central Bureau of Investigation (CBI) on Saturday conducted coordinated search operations at Hyderabad and Odisha in connection with Rs 48.48 crore PNB Chennaii bank fraud case registered against
BSFB, Bengaluru.
The case was registered against M/s PCH Corporation Ltd and M/S PCH Retail Ltd, its Directors and unknown public servants based on the complaint of PNB Bank, Chennai alleging offences of criminal conspiracy, cheating and causing a wrongful loss of Rs 48.48 crore to the PNB bank.
It was alleged in the FIR that the accused with malafide intention disposed off the entire hypothecated stocks of their business without informing the lender banks and also without routing the sale proceeds of such stocks through their loan accounts and thereby misappropriated them. Thus, the borrower cCompany and its Directors have committed the offences of cheating, criminal breach of trust, criminal misappropriation and criminal conspiracy.
Today, searches were conducted at several locations in Hyderabad and Odisha. The premises covered include residential premises of the Directors of M/s PCH Corporation Ltd and M/s PCH Retail Ltd.
During the searches, incriminating documents and digital evidence, including records relevant to the investigation, were recovered and seized. The seized material is being scrutinized to ascertain the full scope of the criminal conspiracy, trace the diversion and movement of funds, and determine the specific roles of all persons involved.
Further investigation is in progress.
UNI GV 2040
Tags: #CBI raids in Rs 48.48 crore Chennai PNB bank fraud case at Hyd# Odisha on Bengaluru firms
More News

Keralam to ease land laws to boost industry and tourism sectors

19 Sep 2026 | 9:09 PM

Achuthanandan Kuniyil
Kozhikode, Sep 19 (UNI) In a major policy shift aimed at driving economic growth and creating local employment, the government of Keralam has announced plans to amend decade-old land laws to unlock land parcels for industrial and tourism development.

see more..

19 Sep 2026 | 8:50 PM

Chennai, Sep 19 (UNI) union Minister of State for Information and Broadcasting and Parliamentary Affairs, Dr. L. Murugan, today
said unemployment rate has reduced from six to 3.2 per cent, thanks to the Centre's flagship scheme.

see more..

CBI raids in Rs 48 48 crore Chennai PNB bank fraud case at Hyd, Odisha on Bengaluru firms

19 Sep 2026 | 8:43 PM

Chennai, Sep 19 (UNI) The Central Bureau of Investigation (CBI) on Saturday conducted coordinated search operations at Hyderabad and Odisha in connection with Rs 48.48 crore PNB Chennaii bank fraud case registered against
BSFB, Bengaluru.

see more..

Low Pressure forms over North Andaman sea, to intensify into Deep Depression in 3-4 days

19 Sep 2026 | 8:36 PM

Chennai, Sep 19 (UNI) A Low Pressure area has formed over North Andaman sea and its neighbourhood on Saturday evening and it is likely to intensify gradually as a depression and a deep depression and moved towares South Odisha and North Andhra coasts in the next 3-4 days.

see more..

Hyd:Task Force nabs inter-state gang involved in cattle, mobile shop thefts

19 Sep 2026 | 8:33 PM

Hyderabad, Sep 19 (UNI) The Hyderabad Commissioner’s Task Force, in coordination with Khammam Police, has apprehended an inter-state gang allegedly involved in 13 cattle theft cases across Telangana and multiple shutter-lifting thefts at mobile-phone shops in Telangana and Madhya Pradesh, police said on Saturday.

see more..