CBI registers Rs 80-crore bank fraud case against PNB officials

“It was alleged that the loans were sanctioned against inflated valuation of the collateral securities. The said borrowers thereafter disposed of the primary security without depositing the proceeds with the bank, thereby causing alleged loss of Rs 80 crore,” the statement said.

The searches led to the recovery of “incriminating” documents, stamps, hard discs and details of bank lockers, it said.

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