Court frames charges in Canafina security scam

Mumbai, June 20 (UNI) A Special Court at the Bombay High Court today framed charges against the nine accused who were the stock brokers and the Canara Bank officials for their alleged involvement in ''Canfina'' security scam of 1992 in which the bank was allegedly duped to the tune of Rs 47 crore.

All the nine accused -- stock broker Ketan Parekh, Ketan Dalal, Palav Sheth and bank officials Ashok Kumar, N Balasubramaniam, S Mohan, P J Subba Rao, Fariq Zaveri and B V Srinivasan today appeared before Justice S K Shah of the Bombay High Court who is presiding over the security scam case.

The trial will come up for hearing from July three.

According to the CBI case, accused alongwith the bank officials have transferred the canbank fund to various institutions under the alleged security transactions.

Charges were framed under 420, 403 and various sections of Indian Penal Code.

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