Guru Raghavendra Co-op Bank fraud: CID raids loan defaulters
Team Udayavani, Aug 4, 2020, 2:42 PM IST
Bengaluru: CID sleuths on Tuesday, August 4 conducted raids at 15 spots, including Halasur, Rajajinagar and Sadashivanagar in connection with Rs 1400 crore fraud at Sri Guru Raghavendra Co-operative Bank.
Raids were conducted at houses of those who had defrauded the bank by defaulting on loan payments. Huge loans had been availed in connivance with bank officials against fake records.
It may be recalled that the bank’s former chief executive officer Vasudev Maiya, who was booked under a forgery and cheating case committed suicide on July 7. Following this, the high court ordered a CID investigation into the scam.
Following huge non-performing assets at the bank, the Reserve Bank of India imposed restrictions from collecting deposits, lending loans and making investments.
Udayavani is now on Telegram. Click here to join our channel and stay updated with the latest news.
Top News
Related Articles More
BJP’s CT Ravi Booked for Promoting Hatred and Enmity Through Social Media Post
Elections held in 14 LS segments in Karnataka, voter turnout nearly 64 per cent till 5 pm
‘PM is scared, may even shed tears on stage’: Rahul Gandhi’s fresh salvo at Modi
EVMs destroyed as two groups of villagers clash in Chamarajanagar district
Banjarumale hamlet in Belthangady records 100 per cent voting
MUST WATCH
Latest Additions
Patanjali Foods to evaluate proposal to buy Patanjali Ayurved’s non-food business
Congress to discuss candidates for Amethi, Raebareli seats on Saturday
BJP’s CT Ravi Booked for Promoting Hatred and Enmity Through Social Media Post
Elections held in 14 LS segments in Karnataka, voter turnout nearly 64 per cent till 5 pm
‘PM is scared, may even shed tears on stage’: Rahul Gandhi’s fresh salvo at Modi