Mumbai News: CBI Probes 2 Bank Fraud Cases; Former BoI Assistant General Manager Named As Accused In Both

Mumbai: The CBI has launched a probe into two separate cases against proprietor, guarantors and a former assistant general manager of Bank of India for allegedly causing a loss of Rs 9.6 crore to the bank. The agency has registered two cases on charges of cheating and criminal misconduct by abuse of official position under the relevant sections of the Indian Penal Code and Prevention of Corruption Act.

Details On Both Cases

According to the CBI, in both the cases, the Kalbadevi-based firm and its proprietors availed a cash credit facility of Rs 4.8 crore each in 2013 and 2018 from Bank of India’s Kalbadevi branch against stocks, export bills and a collateral of a property in Bandra West and five plots of bungalow land at Palghar.

The accounts, however, turned non-performing assets in December 2015 on account of non-servicing of interest with an outstanding amount of Rs 4.8 crore each.