CBI Books Supertech and Promoter RK Arora in ₹126 Crore Bank Fraud Case

The Central Bureau of Investigation (CBI) has registered a case against Noida-based construction giant Supertech Limited and its promoter, RK Arora, for allegedly defrauding IDBI Bank of ₹126.07 crore, officials said on Saturday.

The FIR also names several full-time directors of the company, including Sangita Arora, Mohit Arora, Parul Arora, Vikas Kansal, Pradeep Kumar, Anil Kumar Sharma, and Anil Kumar Jain.

According to officials, the central agency conducted search operations at five locations associated with the accused in Noida and Ghaziabad. These included both residential and official premises. During the raids, the CBI seized ₹28.5 lakh in cash, the agency’s spokesperson confirmed.

The case stems from a complaint filed by IDBI Bank, which alleged that Supertech and its top executives conspired to divert and misappropriate loan funds. The bank account was later declared a wilful default and classified as fraudulent, resulting in an alleged wrongful loss of ₹126.07 crore to the bank.

So far, Supertech has not issued a statement in response to the CBI action.

The development comes amid broader scrutiny of builder-bank ties. In April, the Supreme Court directed the CBI to initiate seven preliminary enquiries into alleged collusion between builders and banks under various subvention schemes.

The court had specifically asked the agency to probe several Supertech projects and investigate the role of banks that financed housing developments across the National Capital Region (NCR) and other states.