CBI Files Case In Bank Of Baroda Loan Scam

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 CBI Files Case In Bank Of Baroda Loan Scam:

The Central Bureau of Investigation (CBI) has registered a case against pen maker Rotomac Global and officials of various banks in connection with an alleged Rs.2,919 crore ($454.39 million) loan scam. "It was alleged in the complaint that in the Rotomac case, conspirators cheated a consortium of 7 banks by siphoning off bank loans to the tune of 29.19 billion rupees (principal amount)," an official with the CBI said.
The complaint by Bank Of Baroda comes amid a $1.77 billion fraud at another state lender, Punjab National Bank.


Location: India

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