Srinagar, Aug. 1 -- Srinagar- The Economic Offences Wing (EOW) of Crime Branch Kashmir has filed a chargesheet against two former employees of the Central Co-operative Bank in connection with the alleged embezzlement of Rs 3.11 crore through fraudulent loans and unauthorised overdrafts at the bank's Langate branch.

The chargesheet was filed before the court of the Chief Judicial Magistrate, Handwara, under Sections 420 (cheating), 468 (forgery), 471 (using forged documents as genuine) and 120-B (criminal conspiracy) of the Ranbir Penal Code.

Officials said the investigation was initiated on the basis of a written communication from the then Registrar of Co-operative Societies, Jammu and Kashmir, alleging large-scale financial irregulari...