A Central Bureau of Investigation (CBI) team has raided the premises of a local trader who has allegedly committed Rs 1.75 crore bank loan fraud.  No arrest has been made so far in the raid conducted yesterday, CBI sources said, adding investigation was still on.The accused, Balwinder Singh, had taken loan from Punjab National Bank for setting up a cement factory at Mehmewala village here but failed to return the amount, a bank official said.

When the bank failed to recover its amount, it lodged a complaint with CBI office, accusing Balwinder of committing fraud, he said.

After preliminary inquiries by the bank, it was found that Balwinder had not set up the factory at the proposed location and submitted forged documents with the bank to avail the loan amount.

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