CBI Raids Supertech Directors in ₹126-Crore IDBI Bank Fraud Case

The Central Bureau of Investigation (CBI) has registered a case against Supertech Limited and its senior executives in connection with an alleged bank fraud of ₹126.07 crore involving IDBI Bank. The agency conducted search operations across five locations in Uttar Pradesh on Saturday as part of its investigation into the alleged misappropriation of loan funds by the Noida-based real estate firm.

According to the CBI, the case was registered after receiving a formal complaint from IDBI Bank alleging that the company and its directors had submitted forged documents to obtain credit facilities. The FIR, filed by the agency, names Supertech Limited and several top executives, including its promoter and managing director Ram Kishor Arora. Other individuals named in the complaint include whole-time directors Sangita Arora, Mohit Arora, Parul Arora, Vikas Kansal, Pradeep Kumar, Anil Kumar Jain, and Anil Kumar Sharma.

The agency stated that these individuals, in collusion with unidentified bank officials, allegedly secured credit by presenting falsified documentation as genuine. The account was subsequently declared fraudulent and categorised as a wilful default, leading to a loss of ₹126.07 crore to IDBI Bank.

Following the registration of the case, CBI teams launched coordinated search operations at the company’s offices and residential premises of the accused in Noida and Ghaziabad. According to a press statement, the searches led to the recovery of incriminating documents and ₹28.5 lakh in cash from the residence of one of the directors. Officials said that further seizures could not be ruled out as the search operations were still underway at the time of the statement.

The FIR alleges that the fraud was the result of a criminal conspiracy aimed at misappropriating sanctioned loan funds. The agency has initiated formal proceedings following a preliminary inquiry based on the bank’s complaint.

Supertech chairman RK Arora responded to the allegations by stating that discussions with the bank regarding a one-time settlement were in progress. He said, “The plan to deliver the housing projects and the mode of payment to IDBI Bank has already been submitted to the Supreme Court in an ongoing case. Our one-time settlement with the bank is already in process. We have also provided the CBI with the information they requested. We are working on executing the projects as planned.”

The individuals named in the FIR are primarily residents of Gautam Budh Nagar, with the exception of Anil Kumar Sharma, who resides in Rajendra Nagar, Ghaziabad. The locations targeted during the raids included company offices as well as the homes of the directors.

The case adds to the growing list of legal and financial challenges faced by Supertech Limited in recent years. The company has been involved in multiple regulatory and judicial proceedings related to project delays and financial irregularities. With the matter now under the CBI’s purview, further investigation is expected into the bank’s allegations of forged documentation and misuse of loan funds.

The CBI has not disclosed whether any arrests have been made at this stage. Officials said that the case remains open and investigations are ongoing to determine the full extent of the alleged conspiracy and identify any involvement of bank insiders.