The Central Bureau of Investigation on Friday arrested the promoters and directors of Totem Infrastructure Limited for allegedly cheating the Union Bank of India of Rs 313 crore, ANI reported. The agency had filed a case against the firm on Thursday.

Promoters and directors Tottempudi Salalith and Tottempudi Kavita, both residents of Hyderabad, had reportedly secured a loan from a consortium of eight banks, including the Union Bank of India. The loan was declared a non-performing asset in June 2012. The Union Bank of India’s complaint pegged the total amount due to the consortium at Rs 1,394.43 crore.

The company undertakes road projects, water works and building construction.

The CBI has recently booked firms and individuals for allegedly defrauding banks and insurance companies. Earlier on Friday, it booked media firm Deccan Chronicle Holdings and its chairperson T Venkatram Reddy for allegedly cheating United India Insurance Company Limited of Rs 30.5 crore.

The CBI’s actions come after reports emerged of a Rs 12,703-crore fraud at the Punjab National Bank involving billionaire jeweller Nirav Modi.