Former CMD, Together with the Accused, Lent Rs 621 Crore to the Bank

After the Punjab National Bank scam, continuous bank scams are coming out. Another case has surfaced, in which the former CMD of UCO Bank is alleged to have lented Rs 621 crore to the bank in collaboration with the accused.

Central Bureau of Investigation (CBI) has registered a case against former Chief Managing Director (CMD) of UCO Bank, Arun Kaul for Rs 621 crore in the case of bank fraud. According to the agency, former CMD Arun Kaul, Hem Singh Bharana of M / s Ira Engineering Infra India Limited (M / s EEIL), its CMD Pankaj Jain and Vandana Sharda, Chartered Accountants of M / s Altius FinServ Private Limited Pawan Bansal and after receiving complaints from UCO Bank Against other unknown public servants / private persons have registered a case of cheating against six banks.