Following a raid by the Central Bureau of Investigation (CBI) on Friday, former BCCI President AC Muthiah has been charged with fraud, for causing a loss of Rs. 274 crore to IDBI bank.

Muthiah has been booked under IPC sections related to criminal conspiracy, cheating and forgery, along with three other directors of the First Leasing Company.

Muthiah was the chairman of First Leasing Company of India till 2013. The CBI also booked Managing Director Farouk Irani, Senior Vice President Dilli Raj, CFO L Sivaramakrishnan and accountancy based firms Sarathy and Balu and MK Dandeker and Co.

They have also been accused of using forged documents and falsification of accounts between 2005 and 2013.

CBI spokesperson Devpreet Singh told The Times of India, “A case was registered on the complaint of IDBI Bank on allegations of cheating the bank and causing an alleged loss of Rs. 274 crore.”

The CBI raided eight places - seven in Chennai and one in Hyderabad which led to recovery of incriminating documents.