...............According to the CBI, Mr. Barot allegedly approached seven corporate firms posing as a representative of the bank. Claiming that they would get returns at a high interest rate, he allegedly convinced them to put huge sums of money with the bank as fixed deposits. “He represented himself as a financial advisor of the corporates and ‘facilitated’ the bank in mobilising term deposits to the tune of Rs. 256.49 crore from them. Against the deposits, the accused got sanctioned a total loan of Rs. 220 crore from the bank in conspiracy with the former Bank Manager and got the amount diverted to himself,” ...........
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