The Central Bureau of Investigation (CBI) have arrested an absconding accused in an alleged bank fraud case. He was declared as a proclaimed offender in 2013. The CBI spokesperson in a statement said on February 8, that the fraud case was registered way back in the year 2008 against the officials of Canara Bank and private persons.
CBI said that the said accused was one of the guarantors, who had mortgaged their properties to more than one bank for the loans taken by different companies.
According to the CBI, the fraud came to light after one of the companies which had taken loan from Canara Bank had defaulted on paying installments. An inquiry revealed that the accused had caused a huge loss to the bank to the tune of Rs13 crores (approx). After completing the investigation, the CBI filed a charge sheet against the accused in September, 2009.
According to the CBI, the fraud came to light after one of the companies which had taken loan from Canara Bank had defaulted on paying installments. An inquiry revealed that the accused had caused a huge loss to the bank to the tune of Rs13 crores (approx). After completing the investigation, the CBI filed a charge sheet against the accused in September, 2009.
High Court refuses to discharge bank manager from CBI case-The Hindu
The Madras High Court on Friday refused to discharge former Chief Manager of Union Bank of India, Mount Road Branch, Chennai, from a corruption case registered against him on charges of entering into a criminal conspiracy with one of its customers and causing huge loss to the bank by recommending cash credit facilities to the tune of Rs. 6 crore.
Justice A. Selvam dismissed a criminal revision case filed by R. Kannan challenging an order passed by a special court in Chennai for hearing Central Bureau of Investigation cases relating to banks and financial institutions, on March 25, 2011, rejecting his plea to discharge him from the case registered by CBI’s Banking Securities and Fraud Cell in Bangalore on September 25, 2008.
10 PSU banks under CBI lens-Asian Age
According to sources role of senior officials of several other public sector banks are now under the scanner of the agency. “The agency is preparing to start a separate probe to find-out similar irregularities in other public sector banks,” sources said.
Investigations by the agency have revealed that 59 current account holders and unknown bank officials of the BoB branch in Ashok Vihar allegedly conspired to send overseas remittances, mostly to Hong Kong, of Foreign Exchange worth approximately Rs 6,000 crore in illegal and irregular manner, through 6,255 transfers during May 2014-July 2015, in violation of established banking norms under the garb of payments towards suspected non-existent imports, they added.
The CBI recently registered a case under Sections 120-B (criminal conspiracy), 420 (cheating) of the IPC and the Prevention of Corruption Act, 1988, against 59 current account holders and unknown bank officials and private persons on a complaint from BoB.
CBI to challenge Special Court relief to bank officials in HC-Business Standard
CBI will challenge in Delhi High Court the dropping of charges of criminal conspiracy, cheating and criminal breach of trust under IPC by a Special court against two Bank of Baroda officials facing probe in Rs 6000 crore illegal remittances case.
On Tuesday, a Special CBI Judge Pawan Kumar Jain had refused to take cognizance of allegations of criminal conspiracy (120-B)), cheating (420) and criminal breach of trust (409) under IPC leveled by CBI in its charge sheet against Assistant General Manager SK Garg and Forex in-charge officer Jainis Dubey even as it retained allegations under Prevention of Corruption Act.
CBI identified 2,200 corrupt officers in 2015 -Hindustan Times
The Central Bureau of Investigation ‘identified’ around 2,200 ‘corrupt’ senior central officers in 2015, registering cases against 101 of them, said the agency’s director Anil Sinha.
The number of cases, registered against “gazette” officers, in 2015 was 94% higher than the corresponding figures for 2014, said Sinha. In 2014, the CBI had registered 52 cases after a similar exercise, which usually employs physical and technical surveillance, against such officers.
As part of its crackdown on “corrupt” officials, the CBI also registered 67 cases in 2015, which was 56% more than the 2014 figure.
Sinha said that “fighting corruption and crime” effectively and in accordance with “correct” procedures has been his topmost priority, from the time he took charge of the agency over a year ago in December 2014.
When asked for details on the 101 cases and the officers under the scanner, another senior officer declined the request, saying “surveillance-related details can’t be disclosed.”
“We have also given high priority to complete pending investigations. We have filed 1,044 chargesheets in 2015, which is the highest in the last five years,” said Sinha while interacting with reporters at the agency’s headquarters. “The mood of the people in the country is to fight corruption and crime, if CBI will not side with them, who will? This is what that the CBI is doing as the premier anti-corruption agency,” said Sinha. In the backdrop of the Bank of Baroda scam involving sending of ` 6,000 crore illegal remittances it is probing, the CBI will also consult the Indian Banks Association to fine-tune a strategy on pre-empting such crimes in future, he said.
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