CBI chargesheets former SBI officials for fraud

CBI sources said the 12 have been charged under sections 120 B (criminal conspiracy), 420 (cheating), 468 (forgery), 471 (using genuine as forged) of the IPC and under Prevention of Corruption Act.

By: Express News Service | Kolkata | Published:July 7, 2017 12:40 am
SBI, CBI, SBI kolkata, Axis Bank, Axis Bank kolkata, indian express news CBI has filed a chargesheet against two former State Bank of India officials, three former directors of a private firm and seven others in connection with a case of fraud, which had allegedly led a loss of Rs 64.57 crore to the bank. (Source: Wikimedia Commons)

THE CBI has filed a chargesheet against two former State Bank of India officials, three former directors of a private firm and seven others in connection with a case of fraud, which had allegedly led a loss of Rs 64.57 crore to the bank. Those named in chargesheet are then SBI Kolkata deputy general manager (Small and Medium Enterprises) Suresh Chandra Rath and then relationship manager of medium enterprises Jnanajit Dutta; Partha Sarathi Ghosh, Kallol Mukhopadhyay, Probal Mukherjee — former directors Damodar Developers Private Limited; and private persons Mohammad Sirajuddin, Jawaharlal Gupta alias Sha, Plaban Ray, Abul Hossain Mondal, Barun Kumar Dutta, Sanjib Ganguli and Somenath Sapui.

CBI sources said the 12 have been charged under sections 120 B (criminal conspiracy), 420 (cheating), 468 (forgery), 471 (using genuine as forged) of the IPC and under Prevention of Corruption Act.

“The case was registered following a complaint by State Bank of India, which alleged that then directors of the company had criminally conspired to cheat the bank. The three reportedly availed the company’s cash credit limit (a short term loan provided to companies to fulfil their working capital requirement) of Rs 64.57 crore from SBI by depositing as mortgage forged title deeds during 2009 to 2012,” said an official.

“But the company diverted the funds for some other purpose, thus, failing to repay the loan, which resulted in a loss of Rs 64.57 crore to SBI,” the official added. Sources said that during investigation, it was found that the company was also enjoying a cash credit limit of Rs 22 crore from Axis Bank in Kolkata. On June 8, 2009, the company applied for a loan from SBI (SME) with a request that the bank takes over the Axis Bank loan and enhances its cash credit limit from Rs 22 crore to Rs 28.5 crore. The SBI DGM (SME) allegedly misused his position while doing so and also paid the outstanding amount to Axis Bank.

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  1. B
    BISWA
    Jul 11, 2017 at 7:39 pm
    THE ANEX OF UPPER OFFICIALS FROM MUMBAI ALSO SHOULD BE CHECKED BY CBI.
    Reply