'Mistake of fact': CBI closes FIR against Repco Home Finance MD, 3 others

The FIR had been lodged against MD R Varadarajan, and other top execs of Repco Bank in relation to preclosure charges/penalty for loan accounts of a firm named Durga Agencies

Repco Home Finance Ltd said that the Central Bureau of Investigation (CBI) had closed a first information report (FIR) registered against the company's managing director, R Varadarajan, and three others labelling it a ‘Mistake of Fact’.

In a statement, Repco said the CBI had submitted its report to the court, requesting it to pass orders for the closure of the FIR under 'mistake of fact' as allegations in the FIR were not substantiated. The court accepted the request, it said.

The FIR had been lodged against Varadarajan, the then executive director V Raghu, the then chief manager K S Kannan and, and