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CBI conducts raid on S.R. Alcobev Pvt Ltd in Cuttack

25/11/2021 at 9:40 AM

Bhubaneswar, Nov 25: The Central Bureau of Investigation (CBI) team of Bhubaneswar on Thursday has conducted a raid on S.R. Alcobev Pvt Ltd company in Jagatpur area of Cuttack district.

Reportedly, the company has borrowed Rs 40 crore from Punjab National Bank in Buxibazar, Cuttack and Rs 33 crore from Allahabad bank in Kharabela Nagar area for the business purpose. However, the company did not repay the loan amount.

Laxmikanta Mishra, Assistant General Manger-cum-Circle Head of Punjab National Bank, filed a complaint, following which the CBI team conducted a raid.

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