The CBI has registered an FIR against Fedders Electric and Engineering Limited and its promoters for allegedly cheating an SBI-led consortium of banks to the tune of ₹1,028.94 crore, officials said on Friday.

The central probe agency conducted a search operation on Friday at seven locations in Delhi, Noida, Gurgaon and Bulandshahr.

"It has been alleged in the complaint that the accused including private company & its Directors had cheated the banks by way of diversion of funds and sham transactions with related parties," a CBI spokesperson said.

The agency has alleged that the company produced fabricated account books, misrepresented figures to borrow funds and siphoned off various loan proceeds.The allegations were based on forensic audit report, the spokesperson said.

Along with the company, the CBI has also booked its promoters Akhtar Aziz Siddiqi, Sham Sundar Dhawan, Bindu Dogara, Ritushri Sharma, Arun Kumar Joshi and Randhir Jain.

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