CBI REGISTERS A CASE AGAINST TWO DIRECTORS OF A PRIVATE COMPANY AND THEN CHIEF MANAGER OF STATE BANK OF INDIA & OTHERS FOR CAUSING AN ALLEGED LOSS OF RS.164.99 CRORE (APPROX) TO BANK

Press Release
New Delhi, 29.03.2017

      The Central Bureau of Investigation has registered a case against two Directors of Kolkata based private company & said private company and then Chief Manager of State Bank of India, IFB, Kolkata and others U/s 120B r/w 420 of IPC & U/s 13(2) r/w 13(1)(d) of PC Act, 1988 on a complaint from SBI, Kolkata. It was alleged that the said company availed different loans amounting to Rs.142.89 crore(approx) from Industrial Finance Branch of SBI, Kolkata and after availing the loans, the Company & its Directors in criminal conspiracy, misused the funds of the loans for the purposes other than the business. It was further alleged that then Chief Manager of Bank abused his official position and allowed such misuse of bank funds. An alleged loss of Rs.164.99 crore(approx) was caused to Bank during 2011-2013.

       Searches are being conducted today in the premises of accused at Kolkata.


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