New Delhi: The CBI has filed a charge sheet against former chairman cum managing director Ramnath Pradeep of Corporation Bank and other executives in connection with alleged loss of Rs 79 crore incurred by the bank due to loan default by a company, officials said on Friday.
In its charge sheet filed before the court of ACMM, Esplanade, Mumbai, the probe agency named S N Murthy Shankar, the then chief manager, and A P Shiva Kumar, the then senior manager, Corporation Bank, LCB, Mumbai, they said.
The agency had taken over the investigation on the complaint of the bank on June 16, 2017 against Parekh Aluminex Limited, its directors and chartered accountant (CA).
The company and the CA were charge sheeted on December 28, 2020.
"It was alleged that the directors, chartered accountant and others had conspired and availed various credit facilities to the tune of Rs 60 crore (approximately) from e-Corporation Bank (now UBI). They had further allegedly diverted the funds and deployed it in real estate and other non-related business activities by way of loans/advances in different real estate projects," CBI spokesperson R C Joshi said.