NEW DELHI: The Centre finally gave a go-ahead to the CBI to prosecute Usha Anantasubramanian, former MD & CEO of Allahabad Bank, and Sanjiv Sharan, former executive director of Punjab National Bank (PNB), in the PNB fraud case. Anantasubramanian was dismissed from service, according to an official notification.
This comes nearly three months after the Allahabad Bank board divested its MD & CEO from all functional responsibilities, after she was named in a CBI charge sheet in the Rs 14,000 crore PNB fraud.
Ananthasubramanian, who completed her one year as the MD & CEO of Allahabad Bank on May 6, served as the MD & CEO of Punjab National Bank from August 2015 to May 2017. Before that, she was serving as the executive director at PNB from July 2011 to November 2013, which was reportedly the time frame in which the fraud was carried out.The move will allow CBI to go ahead with legal recourse against her and Sharan.