The Central Bureau of Investigation has registered a case against six officials of the Indian Overseas Bank and others in an alleged misappropriation of depositors’ money case.
Searches were conducted at the premises of accused at various places located in Andhra Pradesh and Tamil Nadu which led to recovery of several incriminating documents. In a statement, CBI stated that the accused has allegedly misappropriated funds and caused loss to the Indian Overseas Bank to the tune of around 456 lakh rupees.
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Surbhi Saxena edits the daily Current Affairs News.
The author is qualified member of The Institute of Company Secretaries of India (ICSI).