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The CBI has booked Arun Kaul, former chairman-cum-managing director of the UCO bank, and others in connection with an alleged Rs.621 crore loan fraud.
The CBI on April 14, besides Kaul has also booked Era Engineering Infra India Ltd (EEIL), its CMD Hem Singh Bharana, two chartered accountants: Pankaj Jain and Vandna Sharda and Pawan Bansal of Altius Finserve Pvt. Ltd. among others, in connection with an alleged Rs.621 crore loan fraud which has caused a loss of over Rs.737 crore to the bank.
Further, it is alleged that the accused persons in pursuance of a criminal conspiracy, defrauded the UCO Bank for approx Rs.621 crore by diversion and siphoning of the bank loans.
