Wednesday, June 26, 2013

Govt approves prosecution of Apex Bank chief, nine others

..........Notwithstanding the fact that a case was already registered against her, five officials of the bank entered into an understating with her and settled the issue in return for Rs 53 lakh. According to the SPE officials, legal advisors submitted a false legal opinion to the bank paving the way for clearing obstacles in the settlement. Reserve Bank of India (RBI) and state government rules forbids any such settlement on defaulted loans, said the SPE officer who investigated the case............

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