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The agency had filed these cases between March 31 and October 21 in 2016 against the company engaged in supply and mobilisation of manpower for engineering development and design, besides soil remediation and asset aggregation contracts, they said.
The company had shown work orders from companies abroad which were allegedly its own sister concerns to get bank guarantees from public sector banks on the basis of which loans from banks based in the UK, the USA, Singapore and Switzerland were availed, the agency said in its charge sheets filed before a special CBI court in Mumbai.
The company diverted loan funds and did not complete projects following which foreign banks invoked bank guarantees which were not repaid by the company causing loss to the banks, they said.
Oriental Bank of Commerce, erstwhile State Bank of Hyderabad, Allahabad Bank, Vijaya Bank, Corporation Bank and Andhra Bank suffered losses in these cases of fraud, they said.
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