The CBI arrested today the promoters and directors of Vadodara-based Diamond Power Infrastructure Ltd. (DPIL) in connection with an alleged over Rs 2,654 crore bank loan fraud case, officials said here. The agency in an FIR said that the DPIL, which manufactures electric cables and equipment, is promoted by Suresh Narain Bhatnagar and his sons Amit and Sumit, who are also the directors of the firm. The loan, it said, was declared a non-performing asset in 2016-17. "It is alleged that the DPIL, through its management, (had) fraudulently availed credit facilities from a consortium of 11 banks (both public and private) since 2008, leaving behind an outstanding debit of Rs 2,654.40 crore as of June 29, 2016," the agency said. A non-bailable warrant was issued against them on the agency's request, CBI spokesperson Abhishek Dayal said. The agency had received input about the whereabouts of the Bhatnagar trio late last night following which teams were sent to arrest them. "The accused were arrested today and will be produced before the Special Judge, Ahmedabad," Dayal said. The company and its directors managed to get term loans and credit facilities despite being on the Reserve Bank of India's defaulters list and the Export Credit Guarantee Corporation's caution list at the time of the initial sanction of credit limits by the consortium, the CBI alleged. When the consortium was formed in 2008, the Axis Bank was the lead bank for the term loan and the Bank of India was the lead bank for cash credit limits. It is alleged that the firm, with active connivance of officials from various banks, managed to get enhanced credit facilities. According to the CBI, the company had allegedly submitted false stock statements to the lead bank by treating receivables more than 180 days (non-current asset) as less than 180 days (current asset) to get more drawing power in their cash credit accounts. Earlier in the day, the Gujarat Anti Terrorist Squad said the trio were held from a hotel in Udaipur last night. "The CBI had sought our help in nabbing the Bhatnagar trio. Based on a tip-off that they were hiding in a hotel, a joint team of the Gujarat ATS and the CBI conducted a raid in Udaipur in Rajasthan last night and held them," said a senior ATS official.