The Central Bureau of Investigation on Wednesday booked Kolkata-based computer company RP Infosystems Ltd and its directors in a Rs 515-crore banking fraud case. This is the fifth case of loan default the CBI has registered since billionaire jewellery designer Nirav Modi was accused of defrauding the Punjab National Bank of nearly Rs 12,636 crore earlier in February.

Canara Bank had approached the CBI, accusing RP Infosystems of cheating a consortium of 10 banks it led of Rs 515.15 crore, The Indian Express reported. The consortium includes the Punjab National Bank, State Bank of India, Union Bank of India, Allahabad Bank, Oriental Bank of Commerce, Federal Bank, Central Bank of India, State Bank of Bikaner and Jaipur, and State Bank of Patiala.

Canara Bank alleged that RP Infosystems Ltd had availed loans on the basis of false and fabricated stock and debtors’ statements. It also alleged that Letters of Credit issued by various member banks had started devolving since 2012 as the funds were not maintained.

“The said borrower company dishonestly and fraudulently did not route the sale proceeds through the loan account and siphoned off the entire amount,” The Indian Express quoted from the complaint.