CBI accuses Jaipur-based Swastic Coppers of Rs 48.06 crore bank fraud in Union Bank of India.

CBI accuses Jaipur-based Swastic Coppers Pvt Ltd and its directors of bank fraud of approximately Rs 48.06 crore in Union Bank of India. The company allegedly submitted falsified documents to secure a cash credit limit, defaulted on inland LCs and BGs, and diverted funds through related party transactions. Searches were conducted at the company's factory, official, and residential premises in Jaipur, and the investigation is ongoing.