Sidhu has been charged with spending Rs 45 lakh on renovation of the building of Punjab state agricultural development bank "without following proper procedure."
The repair work was carried out when he was the managing director of the bank in 2017-18, the spokesperson said.
By spending Rs 45 lakh, Sidhu allegedly caused financial loss to the state exchequer, he added.
The then general manager of the bank has already been suspended in this case.
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