CBI registers absconding accused in bank fraud case

CBI has arrested an absconding accused in a bank fraud case, two years after he was declared a proclaimed offender.
"This case was registered in 2008 against the officials of Canara Bank and private persons. The said accused was one of the guarantors, who had mortgaged their properties to more than one bank for the loans taken by different companies," CBI spokesperson said here today.
She said one of the companies which had taken loan from Canara Bank had defaulted.
"A loss to the tune of Rs 13 crore (approx) was allegedly caused to bank. After investigation, charge sheet was filed in September, 2009," she said.

The spokesperson said during trial, the accused failed to attend the court and was also not available at his address of Hyderabad and Bhavnagar (Gujarat).
"After much efforts, CBI tracked his hideout in Ahmedabad and arrested him. He was produced before the trial court and was remanded to judicial custody," she said.