<h1>Alleged Rs 450 crore old-note purchase of sugar factory during 2016 demonetisation; bank alleges Rs 120 crore loss</h1> A political aide of a former state chief minister is alleged to have paid Rs 450 crore in old high-denomination notes during the 2016 demonetisation to acquire a sugar factory, according to a CBI FIR filed on court directions against a sugar company; the bank allege the transaction caused a Rs 120 crore loss and its account was declared fraud in 2020. The income-tax department treated the factory as benami and seized documents, including an MoU and share certificates. The FIR alleges fraudulent credit facilities, diversion and siphoning of funds to related, shell or benami entities, suspicious cash deposits and interest-free advances; searches were conducted at multiple locations.