<h1>Probe alleges bank lost over Rs 2,700 crore after co-founder CEO diverted Rs 5,010 crore into conglomerate firms</h1> A federal probe agency's charge sheet alleges that a private bank suffered over Rs 2,700 crore loss after its co-founder and then-CEO unilaterally directed investments of about Rs 5,010 crore in financial firms of an industrial conglomerate, including NCDs and commercial paper that partly turned non-performing. The agency charges 13 persons/entities with criminal conspiracy, cheating and corruption, asserting some conglomerate entities were shell companies used to route funds and that a quid-pro-quo existed for loans to the bank executive's family companies. Alleged nondisclosure of related-party loans and improper mutual fund and AT-1 bond placements are under further investigation.