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The CBI has arrested a Singaporean man from a hotel near Delhi’s Indira Gandhi International Airport in connection with a ₹32 crore bank fraud, officials said on Friday (Nov 14, 2025).
The man, identified as Rajesh Bothra, was traced and picked up by the agency following a tip-off regarding his arrival in Delhi.
The fraud case stems from a complaint by the Punjab National Bank (PNB), which alleged that ₹31.60 crore was stolen by Frost Infrastructure and Energy Pvt Ltd (FIEL), its directors, unidentified government employees, among others, according to a Central Bureau of Investigation (CBI) statement.
The agency said FIEL drained the proceeds of the letter of credit (LC) by submitting forged bills of lading that fraudulently represented trade between FIEL and two firms – FAREAST and Gulf Distribution Ltd – that belonged to Bothra.
It was alleged that the company defrauded the bank by availing the Foreign Letter of Credit (FLC) limit from the bank.
“Investigations so far have revealed that Bothra played an active role in the conspiracy with FIEL and its directors by providing fake waybills and falsely showing sale and purchase transactions of FIEL with FAREAST and Gulf Distribution Ltd,” a CBI spokesperson said.
The bogus bills were presented by FIEL to the bank through which the company siphoned off the LC proceeds, causing PNB an “unjustified loss of around ₹32 crore”, according to the spokesperson.
“Investigation revealed that FAREAST and Gulf Distribution Ltd were actually controlled and operated by Bothra and there was no actual trade or movement of goods as falsely stated in the forged waybills,” the CBI statement said.
Bothra is also an accused in other cases of the CBI’s anti-corruption branch in Lucknow and has been accused along with other accused persons in some of these cases.
“He never joined the investigation in these cases, nor did he appear during the trial. He is wanted in many other cases of bank fraud and economic crimes,” the statement said.
The CBI said that Bothra’s arrest will facilitate his investigation in the case under investigation, ensure his presence before courts in charged cases and prevent him from avoiding trial by leaving India.
Published – 14 Nov 2025 16:48 IST
