(MENAFN- Gulf Times)
India's federal police said on Monday it had filed charges against a former chairman of state-run Canara Bank over allegations of "cheating" the bank out of about 683.8mn rupees in an alleged loan fraud case.
The Central Bureau of Investigation said the charges had been filed against five former Canara Bank officials including ex-chairman R.K. Dubey and one current official, as well as two directors of a Delhi-based private jewellery company.
"It was...revealed during investigation that there was an alleged nexus between the bank officials with the private persons which led to the perpetration of the fraud," the CBI said in a statement.
Canara Bank did not immediately respond to request for comment.
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