The CBI carried out searches on Thursday at the premises of Punjab Basmati Rice Limited and its directors, booked for allegedly dishonest the Canara Bank to the tune of Rs 174.89 crore, officers said.

The searches took area at the premises of the corporate office and accused directors Kulwinder Singh Makhani, Jasmeet Kaur, and Manjeet Singh Makhani in Punjab’s Amritsar, they said.

“It was once alleged in the criticism that the accused had cheated the Canara Bank-led consortium comprising Andhra Bank, Union Bank of India, Oriental Bank of Commerce, IDBI Bank, UCO Bank to the tune of Rs 350.84 crore (including Rs 174.89 crore to the Canara Bank) by way of disposing of the inventory and top security besides any prior intimation or approval from the consortium lender banks,” CBI Spokesperson RK Gaur said.