AMN
The Central Bureau of Investigation has registered 22 cases against certain officials including Chief Managers of Punjab National Bank and others on a complaint from the Bank.
The agency said, the bank in its complaint alleged that certain officials of the Bank fraudulently sanctioned and disbursed loans to private persons dealing in the business of coal during the period from 2011 to 2016.
It was also alleged that the loans were sanctioned against inflated valuation of the collateral securities, causing alleged loss of around 80 crore rupees to the Bank.
CBI said, searches were conducted at the office and residential premises of accused at 47 places in Madya Pradesh, Haryana, Punjab, Uttar Pradesh, Maharashtra and Delhi.