CBI files fraud case against Supertech for allegedly defrauding IDBI Bank of Rs 126 crore.

The CBI has filed an FIR against Noida-based real estate firm Supertech and its promoter, RK Arora, accusing them of defrauding IDBI Bank of Rs 126.07 crore. The complaint alleges that the company misappropriated loan funds through fraudulent means. Searches at five locations linked to the accused resulted in the seizure of Rs 28.5 lakh in cash. The case follows a Supreme Court directive for the CBI to investigate the nexus between real estate firms and banks over undelivered housing projects.