The CBI arrested six persons including the chairman and managing director of Syndicate Bank SK Jain for allegedly taking bribe of Rs 50 lakh for increasing credit limit of some companies in violation of banking rules.
After keeping a watch on the activities of Jain for last six months on the directive of CBI director Ranjit Sinha, sleuths finally swooped on his relative and a Madhya Pradesh-based chartered accountant (CA) and arrested them while allegedly receiving cash from representatives of companies which have been involved in coal scam.
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The CBI has filed two cases against Jain — accusing him of receiving a bribe of Rs 50 lakh through conduits and abusing his official position to enhance the credit limits of some companies in violation of laid down procedures, official sources said.
Sinha was personally monitoring the case and the searches that were being conducted by sleuths since Saturday morning at 20 places in Delhi, Mumbai, Bangalore and Bhopal.
The CBI arrested Vineet Godha, former spokesman and in-charge of legal cell of the Congress Party and his brother Puneet in Bhopal. While Vineet practices law, Puneet is engaged in the real estate business. The brothers are related to Jain.
The CBI has alleged that the conduit was the brother-in-law of Jain and the deal was struck by the CA who has started his own firm for providing loans to big corporate houses. CBI claimed to have recovered cash to the tune of Rs 21 lakh from Jain’s residence besides gold worth Rs 1.68 crore and fixed deposits upto Rs 63 lakh.
In the two FIRs, CBI has named Neeraj Singal, VP and MD of Bushan Steel, Ved Prakash Agarwal, CMD of Prakash Industries, Pawan Bansal, the chartered accountant, Vineet and Puneet Godha, Vijay Pahuja, Purushotam Totlani and Pankaj Bansal.
CBI is conducting searches at 20 places in four cities in connection with the case.