Central Bureau of Investigation registers case against former MD of Canara Bank

The Central Bureau of Investigation has registered a case against, then Executive Director, Central Bank of India, (who retired as CMD of Canara Bank) and others on a complaint received from Central bank of India alleging therein that then Executive Director in criminal conspiracy with two Directors of private Transport company based at Delhi had allowed deviations in sanctioning credit facilities to the tune of Rs.13.5 crore (approx) to the said company in violation of the laid down rules & regulations. The firm turned defaulter in repayment of the loan to the tune of Rs.6.9 crore (approx) to the bank and corresponding wrongful gain to the said company.
Searches were conducted at the premises of accused in Delhi which led to recovery of incriminating documents. The documents showing investment of Rs. Two crore (approx) in the name of then ED, Central Bank of India and his family members were also recovered from his residence.

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