Rs 737cr fraud allegation on UCO Bank’s Ex CMD

The CBI has registered a case against Arun Kaul, former chairman-cum-managing director of UCO Bank, and two private companies and their directors and some chartered accountants for allegedly cheating the public sector bank of Rs 737 crore.

The loan amount sanctioned to the two firms, Era Engineering Infra India Ltd and Altius Finserve Pvt Ltd, is Rs 621 crore, though the current outstanding after adding interests stands at Rs 737 crore.