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CBI raids bank

By Staff
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New Delhi, Feb 22 (UNI) The CBI today conducted raids in 21 places in Ahmedabad, Mumbai and Delhi in connection with the Initial Public Offering scam relating to Yes Bank Ltd and Infrastructure Development Finance Corp.

The searches, which started early this morning, were expected to continue throughout the day, CBI sources said.

The raids were being conducted at 15 places in Ahmedabad, five in Mumbai and one in Delhi.

After Union Finance Minister P Chidambaram promised strict action in Parliament against those involved, CBI registered two cases on a complaint by the Securities and Exchange Board of India against bank officials of Bharat Overseas Bank and Vijaya Bank, financiers and brokers for causing wrongful loss of Rs 32 crore to the exchequer.

UNI IP LS RK1435

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