CBI has registered a case against former Chairman-cum-Managing Director of Canara Bank R K Dubey for allegedly allowing deviations in sanctioning credit limits to a company during his tenure as Executive Director at Central Bank of India.
CBI sources said the complaint was received against Dubey, who retired as CMD of Canara Bank, from Central Bank of India alleging that he conspired with two directors--G K Dhawan and Janak Dhawan-- of a transport company J D Transport Pvt. Ltd, Delhi to allow deviations in sanctioning credit facilities to the tune of Rs 13.5 crore.
The case has been registered under IPC Section related to Criminal Conspiracy and provisions of Prevention of Corruption Act involving criminal misconduct by a public servant, CBI sources said.
The sources claimed the deviations were in violation of the laid down rules and regulations.
"The firm turned defaulter in repayment of the loan to the tune of Rs 6.9 crore (approx) to the bank and corresponding wrongful gain to the said company," CBI Spokesperson R K Gaur said.
He said searches were conducted at the premises of accused in Delhi which led to recovery of incriminating documents.
"The documents showing investment of Rs two crore (approx) in the name of then ED, Central Bank of India and his family members were also recovered from his residence. Further investigation is continuing," Gaur said.
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