CBI raids 18 locations of Bhushan Power and Steel Limited across various states

The Central Bureau of Investigation (CBI) carried out searches at 18 locations connected to Bhushan Power and Steel Limited on Sunday after a case amounting to Rs 2,348 crore was registered against the chairman Sanjay Singhal and others. Commenting on the raid, a CBI spokesperson said loans worth Rs 47,204 crore were availed from 33 banks and financial institutions from 2007 to 2014 and the company defaulted on their repayments. 

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