The Central Bureau of Investigation CBI has registered a case on a complaint from Union Bank of India against five accused including a Jaipur-based private company, its Directors, Guarantors and unknown others on allegations of defrauding the bank to the tune of over 48 crore rupees. The accused company was stated to have been engaged in the business of manufacturing and repair of power distribution transformers. It has been alleged that the said accused persons in criminal conspiracy cheated the bank to the tune of over 48 crore rupees. The company allegedly availed cash credit limit by submitting false and inflated documents. It has been further alleged that accused defaulted on inland LCs, BGs and diverted the bank funds through transactions with related parties.