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Rs 240-crore bank loan fraud: EOW files 6,000-page chargesheet

Three directors of private firms in the city had been arrested by the EOW on March 16 for allegedly facilitating the fraud. In addition to the three arrested accused, the EOW chargesheeted two others and added the section of criminal breach of trust to the earlier charges.

Written by Mohamed Thaver | Mumbai | Published: April 17, 2018 2:31:05 am
axis bank, rbi, reserve bank, cancel axis bank licence, axis bank licence, demonetisation, business news, latest news The economic offences wing (EOW) of the Mumbai Police on Monday filed a 6,000-page chargesheet against five persons for allegedly defrauding Axis Bank Ltd of Rs 240 crore. (File Photo)

The economic offences wing (EOW) of the Mumbai Police on Monday filed a 6,000-page chargesheet against five persons for allegedly defrauding Axis Bank Ltd of Rs 240 crore. Three directors of private firms in the city had been arrested by the EOW on March 16 for allegedly facilitating the fraud.

In addition to the three arrested accused, the EOW chargesheeted two others and added the section of criminal breach of trust to the earlier charges. After a complaint by Axis Bank, an FIR was registered at NM Joshi Marg police station on May 12 last year following which the EOW started probing the matter.

An officer from EOW said, “A chargesheet was filed before the court of Additional Chief Metropolitan Magistrate AP Kulkarni against five persons. We added section 409 of the IPC based on our investigation. This is, however, the first chargesheet and our investigations are ongoing.”

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