The Central Bureau of Investigation has registered a corruption case against the former Chairman-cum-Managing Director of the United Bank of India (UBI), Archana Bhargava, and two private companies.
The agency conducted searches on the premises of the offices of the accused in Delhi, Noida, Kolkata, Howrah and Mumbai.
Jewellery, cash seized“We have seized jewellery worth Rs. 2.85 crore and Rs. 10.50 lakh in cash from bank lockers. The investigating team found deposits of Rs. 5.42 crore in her name and that of her family members, Rs. 2.26 crore in her bank accounts and papers related to four properties, including a bungalow in Noida and a flat in Delhi’s posh Vasant Kunj,” according to an investigating official.
Ms. Bhargava was the Executive Director with Canara Bank in 2011 and served as the CMD of UBI in 2013.
