City-based Kannya Electronics had cheated Union Bank of India by producing forged documents and obtaining loan of Rs 10.77 crore, the ED said in a release.
The company and its Managing Director were chargesheeted by Central Bureau of Investigation officials, Bengaluru, under the Prevention of Corruption Act, ED Joint Director K S V V Prasad said.
The case was taken up by the ED and investigations revealed that part of proceeds of the crime were deposited in a bank account.