Canara Bank shares end nearly 4% lower as CBI files charge sheet against ex-CMD

New Delhi, March 20

Shares of Canara Bank ended nearly 4 per cent lower on Tuesday after the CBI charged former Chairman-cum-Managing Director RK Dubey and two of the then executive directors of the company of cheating and forgery.

The stock declined 3.84 per cent to end at Rs 254.15 on BSE. During the day, it tumbled 5.41 per cent to Rs 250.

At NSE, shares of the company lost 3.78 per cent to close at Rs 254.20.

In terms of equity volume, 8.32 lakh shares of the company were traded on BSE and over one crore shares changed hands at NSE during the day.

The company’s market valuation dipped Rs 605.87 crore to Rs 15,180.13 crore.

The CBI yesterday charged former CMD RK Dubey and two of the then executive directors of Canara Bank of cheating and forgery in the alleged loan default of over Rs 68 crore sanctioned in 2013, officials said.

In its charge sheet filed at special CBI court in Tis Hazari, the CBI has slapped charges of criminal conspiracy, cheating, forgery and provisions of the Prevention of Corruption Act on the then CMD RK Dubey, then executive directors Ashok Kumar Gupta and V S Krishna Kumar, and two directors of Occasion Silver Pvt Ltd Kapil Gupta and Raj Kumar Gupta, besides the company. — PTI