Banumathi was one of the several doctors who had obtained loan from the Corporation Bank here between 2004 and 2006 to purchase medical equipments for their clinics.
Following complaints that the loan amount was misused, CBI conducted raids in their clinics in 2008 and found that at least 10 doctors, including Banumathi, did not buy medical equipment and used the money for some other purposes, CBI sources said.
CBI had subsequently arrested eight doctors and the senior manager of the bank in the case, but Banumathi and another doctor Sundarajan went absconding since 2008.
She was produced before a judge, who remanded her in custody till November 13.
She was lodged at the Special Prison for Women in Tiruchirappalli, the sources said.
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors


Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share


Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor


Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements


Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
