A couple of petitions have been filed in the Nagpur bench of Bombay High Court alleging Yavatmal Urban Cooperative Bank (YUCB)in Maharashtra is tainted by a scam involving Rs 100 crore, reports Times of India.
The coincidence of the scam with the recent fraud of over Rs12,000 crore in Punjab National bank (PNB) has deeply worried thousands of depositors.
The petitions filed by a businessman say documents submitted by him for a loan were misused by the alleged fraudsters in connivance with the YUCB officials.
Since the petitioner’s repeated efforts to get response from the bank had failed, he sought a legal remedy. In his petitions, he has prayed FIR and stern punishment to the guilty persons.