CBI arrests CMD of Syndicate Bank
August 2, 2014 - Hyderabad
Central Bureau of Investigation official on Saturday arrested Chairman and Managing Director of Syndicate Bank SK Jain along with others in connection with bribery case.
It is alleged that they took bribe for sanctioning loans to various corporate companies.
CBI officials conducted simultaneous raids in 20 places in Delhi, Bangalore, Bhopal and Mumbai. They seized the amount and key documents in the case.
Syndicate Bank Chairman and MD Sudhir Kumar Jain assumed charge as CMD of the Bank on July 8, 2013 and prior to that he was Executive Director of Bank of Baroda. He is in the Banking Industry for the last 26 years.
The Others arrested included CMD's brother-in-law and a Chartered Accountant. CBI is conducting searches at 20 places in four cities in connection with the case.