New Delhi, Jun 11 (IANS): The Central Bureau of Investigation (CBI) on Friday carried out searches at six locations in Mumbai after registering a case of bank fraud worth Rs 134 crore against Gujarat-based Associate High Pressure Technologies Pvt Ltd and its directors.

A CBI spokesperson here said that the agency has booked Associate High Pressure Technologies, its directors Ramchand K. Issrani, Mohammad Farouk Suleman Darvesh, Srichand Satramadas Agicha, Ebrahim Suleman Darvesh, Manoharlal Satramdas Agicha, and Satish Sunderdas Agicha, and other unknown public servants and others on a complaint from Union Bank of India.

In the complaint it was alleged that Associate High Pressure Technologies Pvt Ltd, through its Directors and guarantors had misappropriated, the bank's funds and diverted the same to earn wrongful gain. It was also alleged that the company had an intention to cheat the bank and as such diverted the funds through other banking channels in contravention of the terms and conditions of the loan sanction orders.

"An alleged loss of around Rs 134.43 crore was caused to Union Bank of India," the official said.

"Searches were conducted today at the premises of the accused at six places in Mumbai which led to recovery of incriminating documents," he added.