Rice firm, bank officials booked for cheating - ECAS Punjab

Rice firm, bank officials booked for cheating

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Amritsar, July 2

The CBI has booked directors of a local rice shellar, Punjab Basmati Rice Ltd, and unknown bank officials for causing a loss of Rs 174 crore to Canara Bank.

Reportedly, the accused cheated a consortium, led by the Canara Bank, and comprising of Andhra bank, Union Bank of India, Oriental Bank of Commerce, IDBI Bank, and UCO bank, to the tune of Rs 350 crore by disposing of stocks/ prime security sans any prior information and approval from the consortium. — TNS



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