Andhra Bank stocks sink to 15-year low amid ED probe involving ex-director | News on Markets

Andhra Bank stocks sink to 15-year low amid ED probe involving ex-director | News on Markets

The CBI had filed a complaint in the case last year in OctoberReuters Mumbai Andhra Bank, already hurt by an industry-wide spillover of a huge alleged fraud in another lender, saw its shares slide to a 15-year low on Monday after authorities filed new complaints against a former director in a separate long-running case. The Enforcement Directorate, which fights financial crime, said on Friday it filed additional charges against Anup Garg, a former director of state-run Andhra Bank, in connection with a more than 50 billion rupee ($769.3 million) fraud case involving Sterling Biotech that was filed last year. Click here to follow our WhatsApp channel Authorities have accused senior…
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Source: https://www.business-standard.com/amp/article/markets/andhra-bank-stocks-sink-to-15-year-low-amid-ed-probe-involving-ex-director-118031200677_1.html