CBI books infra firm for ₹1,000-crore fraud in NH-33 project

The CBI has registered a case against infrastructure firm Ranchi Expressway and its promoters for allegedly defrauding a consortium of banks led by Canara Bank of ₹1,029 crore. The CBI further alleged the promoters diverted ₹264 crore on various pretexts. The firm was created as a special purpose vehicle by Madhucon Projects for the Ranchi-Jamshedpur (NH-33) project.