THE Central Bureau of Investigation (CBI) has arrested two private persons, in an on-going investigation of the case for causing an alleged loss of Rs.11.61 crores(approx) to Indian Overseas Bank.
CBI had registered a case on March 19, 2014 under sections 120-B IPC r/w section 420 of IPC on the allegations of a bank fraud in which accused persons availed credit facilities on the basis of false and fabricated documents. A loss to the tune of Rs. 11.61 crores(approx) was caused to Indian Overseas Bank, Mumbai.
The accused persons were absconding since registration of the case and, avoiding investigation, by frequently changing their address. They were declared Proclaimed Offenders on October 17, 2014 by the ACMM 19th Court, Mumbai.
After continued efforts, CBI traced the accused persons and arrested them at Pune.