CBI files FIR in $10 mn 'fraud' in Exim Bank involving UK-based company

The Central Bureau of Investigation has registered a case involving a USD 10 million fraud. This fraud is related to India Exim Bank and a UK-based company named Hanjer Biotech. Officials allege that the company diverted funds after requesting a loan for a recycling project. The loan was approved in 2012 but classified as a non-performing asset in 2014. The entire amount was reportedly siphoned off, leading to the investigation.