The Central Bureau of Investigation (CBI) on Friday said it has registered a case against industrialist A.C. Muthiah and others in connection with the alleged loss of Rs. 274 crore to IDBI Bank.

In a statement, the Central Bureau of Investigation said a case has been registered against Mr. Muthiah, Farouk Irani, the then managing director, First Leasing Company of India Ltd, two chartered accountancy firms and others including unknown people for cheating, forgery of valuable security, forgery for purpose of cheating using forged documents as genuine and falsification of accounts between 2005 and 2013.

The case was registered on the complaint of IDBI Bank on the allegations of cheating the bank and causing an alleged loss of Rs. 274 crore.

The CBI said searches were conducted on Friday at eight places including seven in Chennai and one in Hyderabad in the offices and residences of the accused which led to the recovery of incriminating documents.