{"id":243110,"date":"2021-02-01T12:30:22","date_gmt":"2021-02-01T07:00:22","guid":{"rendered":"https:\/\/www.scconline.com\/blog\/?p=243110"},"modified":"2021-02-01T10:44:37","modified_gmt":"2021-02-01T05:14:37","slug":"cbi-registers-a-case-against-6-then-officials-of-indian-overseas-bank-and-others-alleging-misappropriation-of-depositors-money-and-conducts-searches","status":"publish","type":"post","link":"https:\/\/www.scconline.com\/blog\/post\/2021\/02\/01\/cbi-registers-a-case-against-6-then-officials-of-indian-overseas-bank-and-others-alleging-misappropriation-of-depositors-money-and-conducts-searches\/","title":{"rendered":"CBI registers a case against 6 then officials of Indian Overseas Bank and others alleging misappropriation of depositor’s money and conducts searches\u00a0"},"content":{"rendered":"

The Central Bureau of Investigation has registered a case against 06 then officials of Indian Overseas Bank, Vijaywada\/Guntur and other unknown persons & public servants alleging misappropriation of depositor\u2019s money. It was alleged that the Secretary, Arogya Bhadratha was maintaining Savings Accounts with Indian Overseas Bank, Mangalagiri Branch, District, Guntur and having four deposits of Rs 90 lakh each and another account with deposit of Rs 68,84,111, totalling to Rs 428.84 lakh. It was further alleged that the Bank Officials & unknown others entered into a\u00a0 conspiracy and closed the said four deposit accounts of the Secretary, Arogya Bhadratha, without any request from the account holder. It was further alleged that the proceeds of the four deposit accounts amounting to Rs 387.71 lakh(appox) & also Rs 68.84 lakh(approx) in another account in the name of the Secretary, Arogya Bhadratha were withdrawn in cash partially on various dates and transferred to unrelated accounts after routing through various Banks Office Accounts & third party accounts. Thus, the accused has allegedly misappropriated funds and caused loss to the Indian Overseas Bank to the tune of around Rs 456.55 lakh( (including interest accrued).<\/p>\n

\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 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.<\/p>\n

\n

Central Bureau of Investigation<\/strong><\/p>\n

[Press Release dt. 29-01-2021]<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

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