CBI Searches Hyderabad Locations in Rs 47.37 Crore Jupiter Bio Sciences Bank Fraud Case

The Central Bureau of Investigation (CBI) on Wednesday conducted extensive search operations at multiple locations, including Hyderabad, in connection with an alleged bank fraud case involving Jupiter Bio Sciences Limited. The action follows a formal complaint filed by the Hyderabad branch of UCO Bank, which accused the company, its managing director, its directors, and other individuals of defrauding the financial institution of ₹47.37 crore.

The CBI officially registered the case on June 29, 2026, acting directly on the instructions of the Telangana High Court. These directions were issued by the court in connection with Writ Petition No. 4112/2025, which had been filed by UCO Bank, as well as Review Petition No. 1/2026, which was filed by the CBI.

According to the bank's complaint, the accused individuals and Jupiter Bio Sciences Limited defrauded the public sector bank while availing of various credit facilities. The company allegedly produced fake proforma invoices and submitted highly inflated valuation reports of collateral securities to secure the loans, ultimately causing a direct loss of ₹47.37 crore to UCO Bank.

After registering the case, the federal agency initiated coordinated search operations across several states. Investigators targeted multiple locations in Telangana, Karnataka, Maharashtra, and Tamil Nadu, focusing heavily on the residential premises and offices associated with the directors of Jupiter Bio Sciences Limited.

During these searches, CBI officers recovered a significant volume of incriminating documents and digital evidence. The agency also seized records that point to the diversion of funds, along with other material evidence relevant to the ongoing bank fraud probe.

The CBI stated that the recovered documents and digital records are now undergoing detailed examination. This process is intended to establish the full extent of the criminal conspiracy, map out the flow of the diverted funds, and determine the exact roles played by all the persons involved in the alleged scam. Further investigation into the matter is currently in progress.