CBI books former CMD of UCO bank Arun Kaul and others in connection with an alleged loan fraud
  • 6 years ago
The CBI has booked Former Chairman-cum-Managing Director of UCO bank Arun Kaul and others in connection with an alleged Rs 6.21 billion loan fraud which has caused a loss of over Rs 7.37 billion to the bank, officials said on Saturday. The agency carried out searches at 10 locations. It is alleged that the accused persons in pursuance of a criminal conspiracy defrauded the UCO bank to the tune of about Rs 6.21 billion by diversion and siphoning of the bank loans. Accused Kaul, who was the CMD of a Kolkata-based bank between 2010 and 2015 allegedly, facilitated the accused company in obtaining the loan.
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