The CBI on Monday conducted searches at eight locations after booking Delhi-based dairy products company and its directors for allegedly cheating a Bank of India-led consortium, causing a loss of over Rs 1,400 crore, officials said. The CBI has registered the case against the company and its directors Sanjay Dhingra, Siddhant Gupta, Arun Srivastava besides other unidentified persons, they said. They allegedly cheated the banks by way of “diversion of bank funds, sham transactions with related parties, fabricated documents, falsified books of accounts, CBI Spokesperson said.