CBI registers case in over Rs.200 crore bank fraud
Kolkata, Dec 8 (IANS) The CBI on Tuesday registered a case against a former official of a nationalised bank and three directors of a city-based firm for allegedly defrauding the bank for over Rs. 200 crore, an official said.
The cases were registered against a former deputy general manager of Central Bank of India and three directors of Jain Infraprojects Ltd - M.K. Jain, Rekha Jain and Sunil Kumar Dangi.
"The accused entered into a criminal conspiracy with each other and allegedly diverted bank funds illegally for a purpose other than for what they had been sanctioned. An alleged loss of Rs.212.30 crores was caused to the bank," said a CBI official.
The agency also conducted searches at five places in Kolkata and one place in Allahabad at the residence and office premises of the accused and seized several incriminating documents.