According to the agency, the searches were conducted on the basis of warrants issued on May 8 by a Special CBI Court in Mumbai. Investigators have reportedly seized several incriminating documents during the operation.
The alleged misappropriation has reportedly caused a wrongful loss of Rs 2,929 crore to SBI out of a total exposure of Rs 19,694 crore, involving 17 public sector banks.
Appearing for the petitioner, advocate Prashant Bhushan contended that the scale and complexity of the alleged corporate fraud in the RCOM case exceeded even the financial irregularities uncovered in the Indiabulls matter.
