CBI Books Chandra Proteco in Alleged Bank Fraud
The CBI has booked Chandra Proteco and its directors in an alleged bank fraud case. The agency said the company carried out systematic financial manipulations, including running hidden accounts with banks outside a consortium and shifting letters of credit through linked entities.
Context
Context: A CBI booking means the agency has registered a case and can begin investigating, not that anyone has been convicted. Letters of credit are bank guarantees used in trade, and consortium banks share lending for big borrowers, so bypassing them can hide exposure.
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