New Delhi, Sep 14 (IANS): The Central Bureau of Investigation (CBI) on Monday carried out searches at the premises of Mumbai-based Ess Dee Aluminium Limited and its Chairman and Directors in connection with a bank fraud case of Rs 338 crore.

A CBI spokesperson here said that the agency carried out searches at the premises of the accused and the company in Mumbai and recovered several incriminating documents.

The action comes in the wake of a case the CBI filed on a complaint from the State Bank of India against Ess Dee Aluminium and others including its Chairman, Director etc.

In its complaint the SBI alleged that the Mumbai based private company was manufacturing aluminium foils having its applications as packaging material used in the pharmaceutical, food and FMCG sectors.

"The accused and other unknown persons had entered into conspiracy and submitted fake documents and the accused were involved in diversion of funds etc. and cheated the bank," the official said. The accused cheated SBI to the tune of Rs 338.52 crore.