NEW DELHI: CBI has registered an FIR against Chief Manager of Bank of Baroda, Mandoli branch here and a private person for allegedly converting demonetised notes worth Rs 6.50 crore in contravention of rules.
The agency has alleged that Chief Manager S K Dogra had allegedly opened a current account of one Akash Arora nearly a month before demonetisation was announced without completing KYC formalities.
Two days after November 8, 2016, when Rs 1,000 and Rs 500 notes ceased to be legal tender, Arora allegedly deposited Rs 15 lakhs in the current account in old currency against which Dogra issued a fixed deposit (FD) of Rs 16 lakh, the FIR said.
On the basis of the FD, an overdraft (OD) account in the name of Arora was opened by Dogra with limit of Rs 15.20 lakhs on November 10, 2016. Arora allegedly used the OD account to transfer Rs 15 lakhs to Jain Abhushan same day. (AGENCIES)