The CBI has taken over investigation into an embezzlement of Rs 20-crore jewel loan in Kanchipuram Central Cooperative Bank in 2011, officials said on Wednesday.
The agency has started its probe on the orders of the Madras High Court in July this year, they said.
The high court had transferred to the CBI the probe into three complaints of misappropriation, embezzlement and cheating on jewel loans involving Rs 20.69 crore against Central Cooperative Bank in Kanchipuram in 2011.
A division bench comprising Justices M M Sundresh and M Nirmal Kumar, which disposed of the appeal from T K Balu, a retired employee of the bank, said in its order, "It is a fit case where the CBI will have to be directed to conduct further investigation.
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