CBI arrests two retired Bank of India officers in connection with Rs 2,654 cr loan fraud by Diamond Power Infra

New Delhi: The CBI on Friday arrested two senior retired officers of Bank of India in connection with alleged loan fraud of Rs 2,654 crore by Vadodara-based Diamond Power Infrastructure Ltd. (DPIL) in the bank. V V Agnihotri and P K Shrivastava, retired GM and DGM respectively, had allegedly granted undue favours to the company in granting credit limits, the officials said. [caption id=“attachment_4646581” align=“alignleft” width=“380”] Representational image. News18.[/caption] They said both have been arrested on Friday and will be produced before a special court in Ahmedabad tomorrow. The promoters of the company were arrested in April this year. The agency in an FIR had said that the DPIL, which manufactures electric cables and equipment, is promoted by Suresh Narain Bhatnagar and his sons Amit and Sumit, who are also the directors of the firm The loan, it said, was declared a non-performing asset in 2016-17. “It is alleged that the DPIL, through its management, fraudulently availed credit facilities from a consortium of 11 banks (both public and private) since 2008, leaving behind an outstanding debit of Rs 2,654.40 crore as of 29 June, 2016,” the agency had said.