Thursday, Oct 30, 2014

Rs 28-crore fraud: CBI raids houses of bank officials,construction firm owner

Chandigarh | Posted: May 18, 2013 4:15 am | Updated: April 14, 2014 2:37 pm

Teams from the Anti-Corruption wing of Delhi CBI on Friday raided the residences of two senior employees of the Punjab and Sindh Bank and a Chandigarh-based construction firm owner. The raids were conducted following a complaint received by the manager of the bank in New Delhi,alleging a fraud of Rs 28 crore in the Sector 47 and Sector 22 branches of the bank in Chandigarh during 2009 to 2013.

On Friday,raids — which started at 7 am and continued till 3 pm — were conducted in the residential areas on Sector 37 and 35 in Chandigarh and Phase VII in Mohali. None of the three persons allegedly involved in the fraud were arrested. However,an FIR was registered against them under the corruption Act.

According to the complaint,Tarsem Lal Singla — owner of city-based construction firm Akriti Constructions — had allegedly duped the Punjab and Sindh bank of Rs 28 crore in a credit scheme by submitting bogus guarantees. CBI officials said Singla allegedly connived with the regional manager of the bank,Inderjeet Singh — from Sector 22 — and assistant manager Gurcharan Singh Batra — a resident of Mohali.

Early this year,the bank’s New Delhi branch first detected the fraud,following which,Inderjeet and Gurcharan were suspended. Following this,a complaint was lodged with the Delhi CBI.

“The manager,in a written complaint to the CBI,had alleged that the two officials helped Singla in fraudulently taking credit from the bank,due to which,the bank incurred losses worth Rs 28 crore,” said a CBI officer. He added: “The complainant added that Singla used get money transferred in his account with the help of the two officials. However,the same amount was transferred back to the bank before audit. Hence,no one came to know about the fraud for over four years.”

“We have found some incriminating documents and the bogus guarantees allegedly used by Singla to get the amount transferred to his account,” said an officer. The agency has also scrutinised Singla’s bank lockers in the Sector 47 branch. “The bank lockers have certain documents which are relevant to our case. Silver ornaments were also found in the lockers,” said a CBI officer.

“The CBI officials have made a list of the objects found in Singla’s bank lockers,following which,these were sealed,” said a bank employee,He added that Inderjeet and Gurcharan were posted in the same bank but Gurcharan was lately transferred to the Sector 22 branch.

Despite repeated attempts,Singla could not be reached for comments.

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