Mumbai, Dec 17 (TIWN) The Central Bureau of Investigation (CBI) has filed a charge sheet against three top executives of the Corporation Bank in connection with a Rs 79 crore fraud case, before the Additional Chief Metropolitan Magistrate Court at Esplanade Court, an official said here on Friday.

According to the officials, the Corporation Bank had lodged the case against it's officials and a Mumbai based private firm.  The private firm was incorporated in 1994 was engaged in manufacturing of Aluminium Foil Containers. They allegedly took credit of Rs 60 crore from e-Corporation Bank (now UBI). The firm which took the loan for doing business allegedly diverted the fund. .  After diverting the fund, the firm invested it into real estate. Thus they caused a huge loss to the bank in the name of loan.  The complaint filed by the bank had mentioned about the involvement of it's high rank officials. The Bank officials allowed disbursement of Rs 59 crore without confirming the drawing power with the lead bank.  As per he officials, the accused bank officials also extended the time limit to the private firm for seeking NOC from the lead bank inducting Corporation Bank in consortium. They subsequently dispensed with the condition of seeking NOC from the lead bank of the consortium.