Guwahati (Assam) [India], April 15 (ANI): The Central Bureau of Investigation (CBI) has filed a charge-sheet against former credit manager at Bank of India and four others, before a special CBI court here over an alleged scam amounting to Rs 1.98 crore.
The charge-sheet also mentioned the names of four others including the proprietor of a private trading agency based at Arunachal Pradesh's Itanagar, proprietor of a private firm based at Itanagar, a businessman and a surveyor of an insurance company.
According to CBI, a case was registered against the accused persons and unknown others.
"It was alleged that the then Credit Manager, Bank of India, Guwahati Main branch, Guwahati during the year 2012-14 misused his official position and entered into a criminal conspiracy with other accused including said proprietors," CBI said in a statement.
"The bank official had allegedly sanctioned the term loan and cash credit loans for purchasing the machinery /excavators, civil contract work by violating the procedures and guidelines of bank and also disbursed the loan," it added.
The prove agency said that the borrowers allegedly failed to repay the term loans and cash credit loans, which turned into non-performing assets, causing a loss to the tune of approximately Rs 1,98,50,000 to the bank. (ANI)