Canara Bank shares crack 5% as CBI files charge sheet against former CMD R K Dubey

New Delhi: Shares of Canara Bank fell over 5 percent on Tuesday after the CBI charged former Chairman-cum-Managing Director R K Dubey and two of the then executive directors of the company of cheating and forgery. The stock tumbled 5 percent to Rs 251 on BSE. Likewise, on NSE, shares of the company cracked 5.37 percent to Rs 250.

Canara Bank shares crack 5% as CBI files charge sheet against former CMD R K Dubey. Reuters image.

The CBI on Monday charged former Chairman-cum-Managing Director R K Dubey and two of the then executive directors of Canara Bank of cheating and forgery in the alleged loan default of over Rs 68 crore sanctioned in 2013, officials said.

In its charge sheet filed at special CBI court in Tis Hazari, the CBI has slapped charges of criminal conspiracy, cheating, forgery and provisions of the Prevention of Corruption Act on the then CMD R K Dubey, then executive directors Ashok Kumar Gupta and V S Krishna Kumar, and two directors of the Occasion Silver Pvt Ltd Kapil Gupta and Raj Kumar Gupta, besides the company.