Loan scam accused get bail from High Court
Friday, 03 December 2010 19:43
The Bombay High Court on Friday granted bail to all the eight persons arrested in connection with the bribe-for-loan scam. They were given bail on a surety of Rs. 2 lakh each.
The CBI said that it has busted a racket wherein a private financial services company, its CMD and other associates were allegedly bribing senior officials of public sector banks and financial institutions for facilitating large scale corporate loans.
And on 24 November it arrested eight persons in connection with the racket and registered five cases. They included the former chief executive officer of LIC Housing Finance and senior officials of LIC, Bank of India, Central Bank of India, and Punjab National.
Source : NDTV Profit
The CBI said that it has busted a racket wherein a private financial services company, its CMD and other associates were allegedly bribing senior officials of public sector banks and financial institutions for facilitating large scale corporate loans.
And on 24 November it arrested eight persons in connection with the racket and registered five cases. They included the former chief executive officer of LIC Housing Finance and senior officials of LIC, Bank of India, Central Bank of India, and Punjab National.
Source : NDTV Profit
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