New Delhi, Aug 27 (IANS): The CBI on Thursday carried out searches at five different locations in the national capital and Uttar Pradesh's Aligarh after registering an FIR against a company engaged in meat export over an alleged bank fraud of Rs 221.72 crore in the Punjab National Bank, Bank of Baroda, Central Bank of India and Indian Bank.

Officials said that the company was sanctioned credit facilities of Rs 200 crore in 2011 which was enhanced to Rs 357.61 crore during March-September, 2015.

"It was also alleged inter alia that the credit facilities were required to be used for making 100 per cent export, but the company utilised export credit facility in order to fund the domestic sales. It was also alleged that the borrower company transferred the funds to various related companies without any underlying business activities," said CBI spokesperson R.K. Gaur.

Searches were conducted on Thursday at five locations including official and residential premises of the accused named in the case, in New Delhi and Aligarh.

Officials said that the search team also recovered some incriminating documents.