Andhra Bank shares drop to 15-year-low over â¹5,000 cr fraud
Andhra Bank shares dropped as much as 17% to nearly 15-year-low on Monday after a chargesheet was filed against ex-Director Anup Prakash Garg in a â¹5,000-crore fraud. Garg was allegedly paid about â¹1.52 crore by Sterling Biotech directors for facilitating bank credit. Sterling Biotech took loans of over â¹5,000 crore from an Andhra Bank-led consortium, which turned into bad loans.n