CBI conducts searches at 14 locations in connection with Rs 5717-cr fraud by SKS Power Generation

The Central Bank of India (CBI) has registered an FIR into a bank fraud involving Chhattisgarh-based SKS Power Generation Ltd. The company, promoted by SKS Ispat and Power, allegedly availed a Rs 6,170 crore loan from various financial institutions, leading to a default of Rs 5717 crore. The FIR has booked several officials, including two State Bank of India officers.