Summary:
new delhi: The Economic Offences Wing (EOW) of Delhi Police has now arrested two former officials of Lakshmi Vilas Bank for alleged misappropriation of fixed deposit receipts of the Religare Finvest Limited which led to a wrongful loss of Rs 729 crore to the company. They were holding senior positions in Lakshmi Vilas Bank and had allegedly colluded with erstwhile promoters of Religare Enterprises Limited (REL), police said. Ltd and Lakshmi Vilas Bank Ltd (LVB) and its erstwhile directors and employees. "It was alleged that in Nov 2016, RFL placed an amount of Rs 400 crore in two fixed deposits (FDs) with LVB. During the investigation, grave irregularities and flouting of rules and regulations by officials of Lakshmi Vilas Bank Ltd in sanctioning of loans were noticed..