The CBI filed the case against Bhargava along with a Kolkata-based private firm and some unidentified persons under section 120-B (Criminal conspiracy) of the Indian Penal Code (IPC) and Prevention of Corruption Act.
"It was alleged that Bhargava, while posted as Executive Director of Canara Bank (2011) and as CMD of United Bank of India (2013) had abused her position and obtained certain amounts for herself or for a New Delhi-based private firm (owned by her husband and her son)," a CBI official said.
She also provided various credit facilities to the companies from the bank branches she was posted in, he said.
Separate CBI teams conducted searches at the residential premises of the accused persons in Delhi, Noida, Mumbai, Kolkata and Howrah and recovered jewellery worth Rs 2.85 crore along with Rs 10.50 lakh in cash from the bank lockers in her name and in the the name of her family members.
Deposits of Rs 5.42 crore and documents of two properties -- a three-storeyed bungalow at Noida and a flat in south Delhi's Vasant Kunj -- and two properties in the name of her family members in Delhi and Mumbai were also seized, the official said.
