July 10, 2023 5:27 PM

CBI arrests Chairman and MD of Private Company in an on-going investigation of fraud case to consortium of banks

The Central Bureau of Investigation (CBI) has arrested a Chairman and Managing Director of Private Company in an ongoing investigation of a case related to fraud of around 289.15 crore rupees to consortium of banks. A case was registered regarding the same in May last year. It was alleged that the consortium of Banks comprising Bank of India, Union Bank of India, Canara Bank, Bank of Baroda and UCO Bank have granted a Term Loan of 300 Crore rupees to the borrower company. It was granted betwe...