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Andhra Bank sinks to 15-year low amid fraud probe involving ex-director

Reuters  |  MUMBAI 

By Devidutta Tripathy and Arnab PaulMUMBAI (Reuters) - India's Andhra Bank, already hurt by an industry-wide spillover of a huge alleged fraud at 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 had filed additional charges against Anup Garg, a former director of state-run Andhra Bank, in connection with a more than 50 billion rupee ($769 million) fraud case involving Sterling Biotech that was filed last ...

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First Published: Mon, March 12 2018. 23:06 IST
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