CBI arrests two retired BOI officers for Rs 2,654 cr fraud

New Delhi: The CBI on Friday arrested two senior retired officers of Bank of India in connection with alleged loan fraud of Rs 2,654 crore by Vadodara-based Diamond Power Infrastructure Ltd. (DPIL) in the bank.

V V Agnihotri and PK Shrivastava retired GM and DGM respectively, had allegedly granted undue favours to the company in allowing credit limits, the officials said.

They said both have been arrested on Friday and will be produced before a special court in Ahmedabad on Saturday. The promoters of the company were arrested in April this year.

The agency in an FIR had said that the DPIL, which manufactures electric cables and equipment, is promoted by Suresh Narain Bhatnagar and his sons Amit and Sumit, who are also the directors of the firm.

The loan, it said, was declared a non-performing asset in 2016-17.