Guwahati, Jan 21: The Central Bureau of Investigation (CBI) on Tuesday, January 20, detained Guwahati-based businessman Rajesh Bajaj following extensive search operations at his residence and business establishments in Assam, in connection with an alleged multi-crore loan default involving Bank of Baroda.
According to sources, a CBI team from Kolkata carried out prolonged raids at several locations linked to Bajaj, including his residence and the office of his firm located on Zoo Road in Guwahati. After hours of questioning during the operation, the businessman was taken into custody for further examination as part of the ongoing investigation.
The case originates from a complaint filed by Bank of Baroda in 2025, alleging that loans availed in the name of North East Plantation and Commercial Private Limited, a company reportedly associated with Bajaj, had turned into defaults. Based on the complaint, the CBI registered a First Information Report at its Kolkata office and subsequently widened the scope of the probe to Assam.
Investigators suspect that Bajaj had obtained loans amounting to several crores of rupees from the public sector bank and later failed to meet repayment commitments. Officials indicated that the allegations bear similarities to previous charges levelled against him in the Apex Bank scam, a case that is still under scrutiny by central agencies.
As part of the coordinated action on Tuesday, the CBI also searched the company’s office premises, where Bajaj’s brother, Kishore Bajaj, was present at the time, sources said. During the searches, officials reportedly seized a substantial number of documents believed to be linked to the financial dealings under investigation. A large red bag suspected to contain cash was also recovered, though the agency has not officially disclosed details about the seized items.
The CBI has not yet issued a formal statement on the detention, the materials recovered, or the next steps in the case. Sources, however, indicated that further action is likely as investigators analyse the documents and follow the financial trail connected to the alleged loan default.
