A division bench of the Madras High Court has asked the CBI to investigate complaints of misappropriation, embezzlement and cheating on the jewel loans involving Rs 20.69 crore against the Central Cooperative Bank in Kancheepuram, reports New Indian Express.
The court was disposing of a writ appeal from a retired employee of the bank.
It is alleged that illegal transactions took place in the Pallavaram and Porur branches of the bank.
However, the court’s order is significant considering at least in one of the cases investigation had been closed on shaky grounds.