CBI charge sheet against ex-Canara Bank CMD in Rs 680-mn loan default case

The CBI on Monday charged former Chairman-cum-Managing Director R K Dubey and two of the then executive directors of the Canara Bank of cheating and forgery in the alleged loan default of over Rs 680 million sanctioned in 2013, officials said here.

They said the agency has filed charge sheet in the Tis Hazari Court here against Dubey, the then Executive Directors (Ashok Kumar Gupta and VS Krishna Kumar), and two directors of the Occasional Silver Company Ltd (Kapil Gupta and Raj Kumar Gupta) in the case.

The agency has alleged that Guptas knew Dubey and used the connection in getting loans.

It is alleged that the CBI had sms messages from the CMD directing subordinate officers to favour the Kamala Nagar-based company in disbursing the loan, they said.

The loans were disbursed within three months of being sanctioned in December 2013, they said.

The loans became Non-Performing Assets in September, 2014 within few months of being disbursed, they said.