Canara Bank

Ranjit Mahanti    

THE Central Bureau of Investigation (CBI) has arrested an absconding private person relating to a case in which an alleged loss of Rs. 1.64 crores (approximately ) was caused to Canara Bank, Mumbai branch.

Accordigong to CBI spokesperson, the arrested accused was produced in the Trial Court and was remanded to Judicial Custody till September 17, 2014.

CBI had registered a case on January 27, 2003 on the allegations of a bank fraud in which the accused persons availed various loan facilities by submitting misleading information to the bank and allegedly diverted the entire funds for own purpose other than for which it was granted. An alleged loss of Rs.1.64 crores was caused to Canara Bank. A chargesheet was filed on July 3, 2004 against the accused persons before the Special Judge, Mumbai under sections 120-B of IPC, r/w sec. 409, 420, 468, 471 & 477-A of IPC and Sec.13(2) r/w. 13(1) (c) & (d) of PC Act, 1988 and substantive offences.

The said accused person was absconding and declared proclaimed offender on October 12, 2011 by the Trial Court. He was one of the main beneficiaries who stood as guarantor to the loan facilities obtained and substantial loan amount of Rs.13 lakhs was allegedly transferred to his account. CBI traced the accused and arrested him.

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