CBI detains Guwahati-based businessman Rajesh Bajaj in multi-crore loan default case

The Central Bureau of Investigation (CBI) on Tuesday, January 20, detained Guwahati-based businessman Rajesh Bajaj after conducting extensive searches at his residence and business premises in Assam. The action is linked to an alleged multi-crore loan default involving Bank of Baroda, marking yet another high-profile financial investigation in the Northeast.

According to official sources, a CBI team that arrived from Kolkata carried out hours-long raids at multiple locations associated with Bajaj, including his residence and the office of his firm on Zoo Road in Guwahati. Following sustained questioning, Bajaj was taken into custody for further investigation.

The case stems from a complaint lodged by Bank of Baroda in 2025, accusing Bajaj of defaulting on loans availed in the name of North East Plantation and Commercial Private Limited, a company allegedly linked to him. The First Information Report (FIR) was registered at the CBI’s Kolkata office, after which the central agency expanded the probe to Assam.

Investigators allege that Bajaj had secured loans worth several crores of rupees from the public sector bank but failed to honour repayment obligations. Officials noted that the current allegations mirror earlier accusations against Bajaj in the much-discussed Apex Bank scam, which remains under investigation by enforcement agencies.

As part of Tuesday’s coordinated operation, CBI officials conducted simultaneous searches at the company’s office, where Bajaj’s brother, Kishore Bajaj, was present during the raid, sources said.

During the searches, the agency reportedly seized a large volume of documents suspected to be linked to the financial transactions under scrutiny. A large red bag, believed to contain cash, was also recovered; however, the CBI has not officially confirmed the nature or contents of the seized items.

The central agency has so far refrained from issuing an official statement regarding Bajaj’s detention, the materials recovered, or the next course of legal action. Sources indicated that further developments are expected as investigators analyse the seized documents and trace the financial trail.