CBI books Ex-UCO Bank CMD Arun Kaul in Rs 621 crore cheating case

By: |
New Delhi | Published: April 14, 2018 6:07:01 PM

The CBI has booked former UCO Bank CMD Arun Kaul and others for allegedly cheating the bank to the tune of Rs 621 crore, officials said today.

CBI, UCO bank, UCO bank CMD Arun Kaul, cheating case, delhi, fraud caseThe agency is carrying out searches at 10 locations– eight of them in Delhi and two in Mumbai — in this connection

The CBI has booked former UCO Bank CMD Arun Kaul and others for allegedly cheating the bank to the tune of Rs 621 crore, officials said today. The agency is carrying out searches at 10 locations– eight of them in Delhi and two in Mumbai — in this connection, they said. It was alleged that the accused persons in pursuance of criminal conspiracy defrauded the UCO Bank to the tune of Rs. 621 crore (approx)by diversion and siphoning of the bank loans, they said Besides Kaul, others booked by the CBI are Era Engineering Infra India Ltd. (M/s EEIL), its CMD Hem Singh Bharana; two chartered accountants — Pankaj Jain and Vandna Sharda –, Pawan Bansal of M/s Altius Finserve Pvt. Ltd., and other unidentified persons, they said.

Get live Stock Prices from BSE, NSE, US Market and latest NAV, portfolio of Mutual Funds, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

Financial Express is now on Telegram. Click here to join our channel and stay updated with the latest Biz news and updates.

Next Stories
1Yes Bank acquires 24% stake in Dish TV
2Covid impact: No takers for luxury housing as unsold inventory piles up
3Make-in-India push: BSNL to refloat revised 4G tender