CBI charges former Canara Bank chairman for forgery and cheating in Rs 68-crore loan default case
In 2013, RK Dubey allegedly asked bank officials to favour a company while disbursing loans that soon became non-performing assets.
The Central Bureau of Investigation on Monday charged former Canara Bank Chairman RK Dubey and two former executive directors with cheating and forgery for an alleged loan default of over Rs 68 crore, PTI reported. After the news, the bank’s stock declined over 3% on share indices on Tuesday, and was one of the top losers on the BSE.
Dubey allegedly helped a company get loans sanctioned in December 2013. They were disbursed within three months. Soon after, the loans became non-performing assets. Two of the company’s directors allegedly knew Dubey, and the CBI reportedly has access to text messages that Dubey sent to other bank officials asking them to favour the company while disbursing the loans.
The agency filed the chargesheet against Dubey, then Executive Directors AK Gupta and VS Krishna Kumar, and two directors of the company involved, Occasional Silver Company Limited.
The CBI had filed a case in January 2016. Occasional Silver Company Limited has businesses in wholesale and retail jewellery trading.