New Delhi, Sept. 15: The CBI today booked former UBI chairman and managing director Archana Bhargava for alleged abuse of her official position and seized gold jewellery and property documents worth crores following a search at the retired banker's residential premises in Calcutta, Delhi and Noida.
Bhargava had joined the Calcutta-headquartered United Bank of India in April 2013 and taken voluntary retirement after a brief 10-month stint. Before joining UBI she had served as executive director of Canara Bank.
"It was alleged that Bhargava, while posted as executive director of Canara Bank in the year 2011 and as CMD of United Bank of India in 2013, had abused her official position and obtained certain amounts for herself and for a New Delhi-based private firm from some private companies to whom various credit facilities were granted by the two banks where she had worked," CBI spokesperson R.K. Gaur said.
Bhargava has been booked under the penal code's Section 120B (criminal conspiracy) and the prevention of corruption act.
Cases have also been registered against Bhargava's husband's company, Rank Mercantile Pvt Ltd, which has its office in Delhi, and a Calcutta-based company, Ashtabhuja Deal Pvt Ltd.
Neither Bhargava nor officials of any of these companies could be reached for comment.
Agency sleuths conducted searches at residential premises in Delhi, Noida, Mumbai, Calcutta and Howrah. "The raid led to the recovery of jewellery worth Rs 2.85 crore and Rs 10.5 lakh cash from bank lockers of Bhargava and her family members; deposits of Rs 5.42 crore in her name and (in the name of her) family members; Rs 2.26 crore in her bank accounts; documents of two properties, i.e. a three-storey bungalow at Noida and a flat at Vasant Kunj in Delhi and two properties in the name of her family members in Delhi and Mumbai," Gaur said.
Agency sources said Bhargava was a banker for 37 years and had started her career as a management trainee at Punjab National Bank.