New Delhi [India], April 14 (ANI): The Central Bureau of Investigation (CBI) has registered a case on a complaint received from UCO Bank against Arun Kaul, former Chairman and Managing Director of UCO Bank, Era Engineering Infra India Ltd. (M/s EEIL) and its Chairman and Managing Director Hem Singh Bharana, Pankaj Jain and Vandana Sharda, Chartered Accountants, Pawan Bansal of Altius Finserve and othersAlso Read - Ananya Panday to Appear Before NCB on Friday Again, Aryan’s Custody Extended Till Oct 30 | Top Points
CBI Spokesperson Abhishek Dayal confirmed that the accused had defrauded UCO Bank to the tune of Rs. 621 crore approximately. Also Read - Twinkle Khanna Reacts To Aryan Khan’s Arrest, Compares It To Squid Game
“It was alleged that Kaul and others, as part of a criminal conspiracy, defrauded UCO Bank to the tune of Rs.621 crore by diversion and siphoning of the bank loans. The loan was not utilised for the sanctioned purpose and was secured by producing false end use certificates issued by the CA and by fabricating business data etc,” said Dayal. Also Read - Will Aryan Khan Get Bail on Thursday? Lawyers Move Bombay HC | Highlights From Wednesday
He added that the irregularities took place when Kaul was heading UCO Bank between 2010 and 2015.
Searches were being conducted at ten places in New Delhi and Mumbai on Saturday in connection with the case. (ANI)
This is published unedited from the ANI feed.