The CBI on Wednesday registered a case against city-based Shree Mahalaxmi Corporation Pvt. Ltd and two of its directors for misusing funds by taking several loans from State Bank of India for business purposes, a CBI statement said.The case was also lodged against the then Chief Manager of the bank's Industrial Finance Branch here for abusing his official position to allow the fraud."The two directors of the accused company - Gopal Kumar Agarwal and Banwari Lal Agarwal - are charged with criminal conspiracy for allegedly availing different loans amounting to approximately Rs 142.89 crore and misusing the money from the Industrial Finance Branch of SBI, Kolkata and misusing the money in purposes other than business," said the Criminal Bureau of Investigation release."It was further alleged that the then Chief Manager of Bank Jyoti Ranjan Kango abused his official position and allowed such misuse of bank funds which allegedly resulted in a loss of approximately Rs. 164.99 crore to the bank during 2011-2013," it said.The CBI officials raided the premises of the accused on Wednesday.Shree Mahalaxmi Corporation, based at Kolkata's Moira street, deals with manufacturing and exporting of a wide range of iron, steel and allied products.