| Shares of UCO Bank slumped 14 per cent today after Reuters reported that the Central Bureau of Investigation (CBI) has filed a case against a former chairman of the state-run bank and several business free data recovery softwareexecutives alleging criminal conspiracy that caused a loss of Rs 621 crore. Bombay Stock Exchange or BSE has sought clarification from UCO Bank on this matter, According to Reuters, CBI said officials at the bank had colluded with private infrastructure firm Era Engineering Infra, and investment banking firm Altius Finserve Pvt to siphon bank loans.UCO Bank shares tradeFree Photo Recovery Softwared in the range of Rs 20.80 to Rs 19.15 today on the BSE. At 11.41 am, shares of UCO Bank were down 8 per cent to Rs 20.60.CBI, according to Reuters, sdata recovery softwareaid in a statement that Arun Kaul, the bank's chairman between 2010-2015, had helped clear the loan. |
