A CBI case against the managing director and other officials of Repco Home Finance Limited was closed owing to a ‘mistake of fact,’ a statement from the firm said. An FIR was registered by the CBI in October 2016 against R. Varadarajan, managing director, V. Raghu, the then executive director, K.S. Kannan, the then chief manager and P. Sekhar, deputy general manager, with respect to the penalty charges for the loan accounts of Durga Agencies.
The CBI investigated the case and said in its report to the court that criminality could not be attributed to any of the accused, which meant no prosecutable case was made out.
