New Delhi, Nov 14 – The Central Bureau of Investigation (CBI) has taken Singapore‑based businessman Rajesh Bothra into custody for his role in a ₹31.60 crore bank‑fraud scheme involving Punjab National Bank (PNB).
Bothra was stopped in Delhi after the CBI received tips about his travel into India. Officers traced him to Hotel Andaz and Hyatt Residences in Aerocity and arrested him on Thursday.
The fraud, which was first filed last year (case RC0062024A0032) by PNB, centers on the company M/s Frost Infrastructure and Energy Pvt. Ltd. (FIEL). Investigators say FIEL misused a foreign letter of credit (FLC) by forging documents.
Key to the scheme were fake Bills of Lading that Bothra created and supplied. These documents claimed that FIEL had bought and sold goods with two foreign firms—M/s FAREAST and M/s Gulf Distribution Ltd. The CBI says Bothra actually ran those two companies and that no real shipments ever took place. By presenting the forged bills to PNB, FIEL siphoned about ₹32 crore from the bank.
Bothra is also listed as an accused in other CBI and ACB cases, and he has avoided court appearances in those proceedings. His arrest is seen as a crucial step to keep him from evading the legal process. He will appear before the trial court today.
This development highlights the growing scrutiny of cross‑border financial fraud and the efforts of Indian authorities to hold international actors accountable.
Stay informed on all the latest news, real-time breaking news updates, and follow all the important headlines in world News on Latest NewsX. Follow us on social media Facebook, Twitter(X), Gettr and subscribe our Youtube Channel.
