The Indian police yesterday registered a case against top Citigroup executives, including chief executive Vikram Pandit, in connection with an 3bn (€53m) Indian rupee alleged fraud at a Citibank branch in a New Delhi suburb.

The move follows a complaint by bank customer Sanjeev Agarwal, who was allegedly duped in an investment fraud orchestrated by an employee of the Gurgaon branch of the US bank.