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Andhra Bank stocks sink to 15-year low amid ED probe involving ex-director

The CBI had filed a complaint in the case last year in October

Reuters  |  Mumbai 

Andhra Bank, already hurt by an industry-wide spillover of a huge alleged fraud in another lender, saw its shares slide to a 15-year low on Monday after authorities filed new complaints against a former director in a separate long-running case. The Enforcement Directorate, which fights financial crime, said on Friday it filed additional charges against Anup Garg, a former director of state-run Andhra Bank, in connection with a more than 50 billion rupee ($769.3 million) fraud case involving Sterling Biotech that was filed last year. Authorities have accused senior executives of ...

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First Published: Tue, March 13 2018. 01:23 IST
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