The Central Bureau of Investigation (CBI) has registered a case of alleged corruption against the then chairman-cum-managing director of United Bank of India (UBI) Archana Bhargava and two companies.
During the searches, CBI recovered cash, jewellery and investment details to the tune of over Rs 10 crore which are allegedly in her and her family members' name, the CBI said on 15 September.
"It was alleged that the then public servant while posted as ED of Canara Bank in the year 2011 and as CMD of United Bank of India in the year 2013 had abused her official position and obtained certain amounts for herself or for a New Delhi based private firm (owned by her husband and her son), from the companies to whom various credit facilities were granted by the banks, where she had worked," the CBI said.
She said searches conducted at the residential premises of accused persons in Delhi, Noida, Mumbai, Kolkata and Howrah led to the recovery of jewellery worth Rs 2.85 crore and Rs 10.50 lakh cash from the bank lockers in her name and her family members.
In addition deposits of Rs 5.42 crore in her name and family members, Rs 2.26 crore in her bank accounts; documents of two properties- a three storey Bungalow at Noida and a flat at Vasant Kunj, New Delhi and two properties in the name of her family members in Delhi and Mumbai.