CBI Searches in Jupiter Bio Sciences Bank Fraud Case
According to the complaint, the accused defrauded the bank by producing fake proforma invoices and inflated valuation reports of collateral securities while availing credit facilities.
Hyderabad:The Central Bureau of Investigation (CBI) on Wednesday carried out searches in connection with a bank fraud case against Jupiter Bio Sciences Limited, its managing director, directors and others, following a complaint by UCO Bank, Hyderabad, alleging a loss of ₹47.37 crore.
The case was registered on June 29, 2026, on the directions of the Telangana High Court in Writ Petition No.4112/2025 filed by UCO Bank and Review Petition No.1/2026 filed by CBI.
According to the complaint, the accused defrauded the bank by producing fake proforma invoices and inflated valuation reports of collateral securities while availing credit facilities.
After registration of the case, searches were conducted at several locations in Karnataka, Maharashtra, Telangana and Tamil Nadu, including residential premises linked to the company’s directors.
The CBI said incriminating documents and digital evidence were recovered, including records of diversion of funds and other material relevant to the probe. These are being examined to establish the extent of the conspiracy, the flow of funds and the role of all persons involved.
Further investigation is in progress.