CBI Registers Rs 62 Crore Bank Fraud Case Against Mumbai Firm
The Central Bureau of Investigation has launched a major financial fraud probe against a prominent Mumbai enterprise. Federal investigators initiated the case following formal complaints regarding multi-crore losses sustained by public sector lenders through alleged account falsification and credit line inflation.
Key Highlights
- Federal agency registers case against One World Sourcing and its chief partners.
- Allegations involve a Rs 62.42 crore wrongful loss inflicted on Indian Bank.
- Simultaneous CBI raids across Mumbai recover critical incriminating financial documents.
- Separate federal crackdown in Kolkata targets three additional firms over a Rs 73 crore PNB fraud.
The Central Bureau of Investigation has registered a bank fraud case involving an alleged wrongful loss of Rs 62.42 crore to Indian Bank against a Mumbai-based firm, its partners, unknown public servants and private persons, officials said.
According to the CBI, the case was registered on June 18, 2026 based on a complaint filed by the SAM Branch of Indian Bank in Mumbai against One World Sourcing and its partners, Aashima Manoj Khushalani and Rakesh Kumar Singh.
It has been alleged that the accused persons entered into a criminal conspiracy, cheating and falsification of accounts by allegedly submitting inflated debtor figures and other false financial information to the banks and thereby obtained higher Cash Credit facilities from Indian Bank and another bank, causing wrongful loss of approximately Rs 62.42 crore to the complainant bank.
Following registration of the case, CBI conducted searches on June 20, 2026 at multiple premises linked to the partners of the Firm in Mumbai and other locations, pursuant to search warrants issued by the Special Court for CBI Cases, Mumbai.
During the searches, incriminating documents relevant to the investigation were recovered and seized. Preliminary scrutiny of the seized material indicates the existence of debtor entities whose credentials are under verification. Documents relating to the alleged inflation of debtor figures for availing enhanced credit facilities have also been seized.
Investigation is continuing to ascertain the full extent of the conspiracy, identify the role of all involved persons, including public servants and private individuals, and trace the end-use of the loan funds.
Earlier, CBI had conducted searches on June 19, 2026 at eight locations in Kolkata, West Bengal, in connection with three separate cases registered against Tantia Construction Ltd., Brahm Alloys Ltd. and Amrit Feeds Ltd.
According to the release, in the Tantia Construction Ltd. case, the searches were conducted at the residential premises of the Directors of the Company. The searches have resulted in the seizure of incriminating documents, and the investigation is continuing.
The case pertains to defrauding Punjab National Bank to the tune of Rs 73 crore in the matter related to Cash Credit and Term Loan facilities availed from the Bank.
History of Banking Scrutiny
This multi-city crackdown comes amid heightened regulatory vigilance by Indian federal agencies targeting non-performing assets and credit facility manipulation. Over the past decade, public sector lenders have strengthened coordination with the Central Bureau of Investigation to flag early warning signals in corporate loan accounts, aiming to recover diverted funds and penalize account falsification.
FAQs
What are the main allegations against One World Sourcing?
The firm and its partners are accused of entering into a criminal conspiracy, cheating, and account falsification. They allegedly submitted inflated debtor data to secure higher Cash Credit facilities, causing a loss of Rs 62.42 crore to Indian Bank.
Which individuals have been named in the CBI first information report?
The investigation explicitly names corporate partners Aashima Manoj Khushalani and Rakesh Kumar Singh, alongside unidentified public servants and private individuals linked to the credit inflation scheme.
What did the CBI uncover during its corporate raids in Mumbai?
Federal agents seized critical financial documents showing discrepancies in debtor metrics. Investigators are currently verifying the legal credentials of the various debtor entities used to secure the enhanced bank credit.
How does the Kolkata operation relate to the Mumbai banking fraud case?
While distinct, the June 19, 2026 searches across eight Kolkata sites reflect a broader federal push against banking non-compliance, penalizing Tantia Construction Ltd. and others for a separate Rs 73 crore fraud against Punjab National Bank.
