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CBI files case against former UCO Bank chairman

Reuters  |  NEW DELHI 

NEW DELHI (Reuters) - The Central Bureau of Investigation (CBI) said on Saturday it has filed a case against a former chairman of state-run UCO Bank and several business executives alleging criminal conspiracy that caused a loss of 6.21 billion rupees ($95.17 million).Police said officials at the bank had colluded with private infrastructure firm Era Engineering Infra Ltd, and investment banking firm Altius Finserve Pvt Ltd, to siphon bank loans.CBI said in a statement that Arun Kaul, the bank's chairman between 2010-2015, had helped clear the loan.Kaul did not respond to Reuters' calls for ...

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First Published: Sat, April 14 2018. 22:12 IST