Searches are in progress at the residences of the accused including in Ajmer and Jaipur.
As per the officials, the accused are recognised as former AGM A K Tiwari and Adarsh Manchanda, Chief Managers — Santosh Gupta & Deshraj Meena who worked at the bank’s Udaipur and Jaipur branch.
The complaint was lodged against them as they hatched conspiracy of availing home loans/credit facilities from the bank with the help of forged documents.
The funds disbursed by the bank’s two separate branches were then ferried across to the companies owned by the accused allegedly causing a loss of approximately 209 crores to the banks, said a bank official.
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