CBI arrests official liquidator over 'fraudulent' fund

An official liquidator was arrested by the CBI here today for his alleged complicity in a "fraud" of over Rs 8.89 crore in the transfer of Official Liquidator funds to a PSU bank in Khammam and their "fraudulent withdrawal".

CBI's anti-corruption unit in Hyderabad arrested Arvind Shukla, Official Liquidator, in connection with the "fraud", the agency stated in a release.

A case was registered on December 17, 2015 against Branch Manager, United Bank of India, Khammam branch, and others on the allegation that Official Liquidator funds to the tune of Rs 8,89,69,258 were deposited in the bank and were fraudulently withdrawn pre-maturely by a few private persons in connivance with bank officials, DIG (CBI Hyderabad Zone) V Chandrasekar said in the release.

"Searches were conducted at the office as well as residential premises of Arvind Shukla to collect more evidence relating to his complicity in the fraud," it stated.

(This article has not been edited by DNA's editorial team and is auto-generated from an agency feed.)