CBI registers cases UBI CMD, others, recovers crores worth of assets

The Central Bureau of Investigation (CBI) has registered a case under Section 120-B of the Indian Penal Code against former chairman and managing director of the United Bank of India; a private firm based at New Delhi; another private firm based at Kolkata and other unknown persons.

The CBI has alleged that the then public servant while posted as the Executive Director of the Canara Bank in the year 2011 and then as the chairman and managing director of the United Bank of India in the year 2013, had abused her official position and obtained certain amounts for herself or for a New Delhi based private firm (owned by her husband and her son), from the companies to whom various credit facilities were granted by the banks, where she had worked.

The CBI confirmed that the searches conducted at the residential premises of accused persons in Delhi, Noida, Mumbai, Kolkata and Howrah led to the recovery of jewellery worth Rs. 2.85 crore (approximately) and Rs. 10.50 lakh (approximately) in cash from bank lockers in her name & in the names of her family members; deposits of Rs. 5.42 crore (approximately) in her name & family members; Rs. 2.26 Crore (approximately) in her bank accounts; documents of two properties i.e. a three storey bungalow at Noida and a flat at Vasant Kunj, New Delhi and two properties in the name of her family members in Delhi and Mumbai.