HC transfers to CBI, probe on 3 complaints against co-op bank

The Madras High Court has transferred to CBI, the probe into three complaints of misappropriation, embezzlement and cheating on jewel loans involving Rs 20.69 crore against Central Cooperative Bank in Kanchipuram in 2011.

The division bench, comprising Justices M M Sundresh and M Nirmal Kumar, which disposed of the appeal from T K Balu, a retired employee of the bank, in its order said "It is a fit case where the CBI will have to be directed to conduct further investigation."