Former Deputy Governor of the Reserve Bank of India K C Chakrabarty has come under the CBI scanner in connection with a loan default case involving a Delhi-based travel company, Airworth Travels and Tours Private Limited.
The company had allegedly availed more than Rs 41 crore in loans from the Indian Overseas Bank (IOB) by fraudulent means and willfully defaulted on it by diverting the funds.
In May, Chakrabarty, who served as the Deputy Governor of the RBI between 2009 and 2014, was stopped from travelling to London from Mumbai airport after the CBI issued a look out circular against him.
The look out circular was issued in connection with an FIR registered against Airworth Travels and Tours Private Limited, its promoters and “unnamed public servants”.
Although the FIR registered in the case did not name Chakrabarty, the CBI questioned him twice in April in connection with the case. A CBI official said Chakrabarty is likely to be called for questioning again.
“There is suspicion that he has played a role in grant of loans to the travel company. That is why he is being questioned,” a source, privy to the matter, said.
In a letter to the CBI last month, Chakrabarty had sought withdrawal of the look out circular so that he could return to London. He has also written to the CBI claiming innocence.
“Chakrabarty was first summoned in December last year, but he appeared before CBI only in April this year. That is why a look out circular has been issued against him,” an official said.
The FIR was registered against the directors of Airworth Travels and Tours Private Limited — Gaurav Mehra and Sonila Mehra — and unknown IOB officials, on charges of criminal conspiracy, cheating, forgery and fabrication of documents. It is alleged that they hatched criminal conspiracy and siphoned off sanctioned credit limit and bank guarantee by submitting fabricated financial statements for availing these facilities.