19 July 2026: The Central Bureau of Investigation (CBI) conducted searches at six locations across four States i.e. West Bengal, Odisha, Tamil Nadu, and Uttarakhand on 18.07.2026 in connection with a Bank fraud case registered against M/s Gupta Power Infrastructure Ltd., Bhubaneswar, Odisha.
The case pertains to alleged defrauding of Canara Bank to the tune of Rs.1109 crore in connection with various Fund Based and Non-Fund based financial facilities availed by the accused company from the Bank. It is alleged that the accused manipulated the value of stocks and inflated trade receivables, falsified the company’s financial statements to obtain enhanced credit facilities, siphoned and diverted loan funds, and resorted to evergreening of accounts, thereby causing a wrongful loss to the bank.
The searches were carried out pursuant to search warrants issued by the Court of the Ld. Special Judge, CBI, Bhubaneswar, Odisha. The search operations covered the residential premises of four accused Directors of M/s Gupta Power Infrastructure Ltd. at Bhubaneswar, Odisha; the registered office of the company at Kolkata, West Bengal; and three manufacturing units of the company located at (i) Kashipur, District Udham Singh Nagar, Uttarakhand; (ii) Tiruvallur, Tamil Nadu; and (iii) Bhubaneswar, Odisha.
The searches resulted in the seizure of incriminating documents.
Investigation in the case is continuing.
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