CBI raids ARSS Infra over financial embezzlement

Bhubaneswar: The Central Bureau of Investigation (CBI) on Wednesday raided the headquarters of ARSS Infrastructure Project Limited here and the house of its director along with five other places simultaneously over financial embezzlement.

A team of CBI officials from Kolkata conducted the raid relating to the financial irregularities by the ARSS Infra, said sources.

The company had allegedly borrowed Rs 62 crore from a bank for construction of a project. However, it neither had constructed the project nor returned the amount to the bank.

The CBI had moved court seeking permission to search the house of the company director and office.

After obtaining a search warrant from the court, the agency carried out the raid, said sources.