CBI arrests Abhijeet Group promoters for alleged bank fraud
The CBI acted on complaints made by the public sector banks, Canara Bank and Vijaya Bank, that the accused perpetrated fraud of around Rs 290 crore by fraudulently availing line of credit facility betwee 2011 and 2013, media reported quoting CBI sources.
The Group was into core sector areas such as Power, Roads, Mining, EPC, Ferroalloys, Steel and Cement.
Incidentally, Union Finance Minister Arun Jaitley recently chaired a meeting with the heads of Indian public sector banks to discuss the banks' performances, including how to recover bad loans.
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