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Andhra Bank shares slide amid fraud probe involving ex-director

Reuters  |  MUMBAI 

MUMBAI (Reuters) - Shares in the state-run Andhra Bank, already hurt by an industry-wide spillover of a huge scam in another lender, fell to a near 15-year low after additional charges were filed against a former director in a separate long-running case of alleged fraud.The Enforcement Directorate, which fights financial crime, said on Friday it filed additional charges against Anup Garg, a former director of 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: Mon, March 12 2018. 14:11 IST
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