Rs 6.21-billion fraud: CBI books former UCO Bank CMD Arun Kaul, others
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Rs 6.21-billion fraud: CBI books former UCO Bank CMD Arun Kaul, others

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The CBI has booked former UCO Bank CMD Arun Kaul and others for allegedly cheating the bank to the tune of Rs 6.21 billion, officials said on Saturday.

The agency is carrying out searches at 10 locations - eight of them in Delhi and two in Mumbai, in this connection, they said.

It was alleged that the accused people in pursuance of criminal conspiracy defrauded the UCO Bank to the tune of Rs. 6.21 billion (approx) by diversion and siphoning off the bank loans, they said

Besides Kaul, others booked by the CBI are Era Engineering Infra India Ltd. (M/s EEIL), its CMD Hem Singh Bharana; two chartered accountants -- Pankaj Jain and Vandna Sharda --, Pawan Bansal of M/s Altius Finserve Pvt. Ltd., and other unidentified persons, they said.

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