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CBI chargesheets former CMD, 2 officials of Corporation bank in fraud case

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The CBI on Friday said it has filed a supplementary chargesheet against a former chairman cum managing director and two others of the Corporation Bank in connection with a bank fraud, officials said on Friday.

The chargesheet was filed in a Mumbai Court.

The case in which Ramnath Pradeep, the former CMD, Corporation Bank, S.N. Murthy Shankar, the former Chief Manager, and A.P. Shiva Kumar, the former senior manager of the Bank have been chargesheeted, was registered in 2017.

According to the officials, the Corporation Bank had lodged the case against it’s officials and a Mumbai based private firm.

The private firm was incorporated in 1994 was engaged in manufacturing of Aluminium Foil Containers. They allegedly took credit of Rs 60 crore from e-Corporation Bank (now UBI). The firm which took the loan for doing business allegedly diverted the fund.

“After diverting the fund, the firm invested it into real estate. Thus they caused a huge loss to the bank in the name of loan,” they said.

The complaint filed by the bank had mentioned about the involvement of it’s high rank officials. The Bank officials allowed disbursement of Rs 59 crore without confirming the drawing power with the lead bank.

As per the officials, “The accused bank officials also extended the time limit to the private firm for seeking NOC from the lead bank inducting Corporation Bank in consortium. They subsequently dispensed with the condition of seeking NOC from the lead bank of the consortium.”

The former CMD of the bank sanctioned working capital limit of Rs 60 crore to the firm on the pretext of refusal by three of the existing banks of consortium to share the enhanced limits.

It was alleged that the accused did not ensure seeking confirmation from three banks about the reasons for refusal to take their share in enhancement of limits and sanctioned their share without ascertaining the factual position of financial closure and tie-up status.

Sanction of said CC limit was in contravention of the lending policy of the bank.

The accused bank officials also waived the condition of obtaining NOC from Lead Bank which caused the bank financial loss.

As per the officials, “The accused associated in the appraisal of the sanction proposal of private firm knowing fully that the applicant of the loan was neither a director nor an authorized signatory of borrower company.”

They associated in preparing the memorandums for modifications of the sanction terms with regard to the private firm and did not verify the actual position of the working capital requirement of company from the lead bank, the sources said.

It was also alleged that the accused did not comply with the modified sanction terms and allegedly disbursed the loan without informing the Lead Bank about the sanction.

In December 2020, the CBI had filed it’s first chargesheet in the matter.

Crime

School job case: Crucial hearing in SC today on CBI probe against Bengal cabinet

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Kolkata, April 8: The Supreme Court will hear on Tuesday whether the Central Bureau of Investigation (CBI) should probe the West Bengal cabinet, which approved the creation of supernumerary posts in state-run schools allegedly to accommodate “tainted” candidates getting teaching and non-teaching jobs against payment of money.

The opposition BJP had said in case the Supreme Court lifts the earlier interim stay on the CBI probe in the matter, Chief Minister Mamata Banerjee would also come under the purview of the probe since as the head of the cabinet she would not be able to avoid responsibility of the decision for creation of supernumerary posts.

The Leader of Opposition in the state Assembly, Suvendu Adhikari, on Monday, said that after Om Prakash Chautala of Haryana, Mamata Banerjee will be the second chief minister of an Indian state to be behind bars in an education scam.

In April 2024, a three-judge Bench of the apex court headed by the erstwhile Chief Justice of India, D.Y. Chandrachud, stayed an earlier order by the Calcutta High Court directing the CBI to undertake further investigations into the approval for supernumerary posts.

In that order, the Calcutta High Court also observed that the CBI, if necessary, will undertake the custodial interrogation of people involved in the matter.

While the stay by the apex court in April 2024 came as an interim relief for the state Cabinet, the matter will again come up for hearing at the Supreme Court on Tuesday.

In fact, the Calcutta High Court, while ordering the CBI probe into the matter earlier, also questioned the sanctity of the decision approving the creation of supernumerary posts.

Ever since information on the matter surfaced, the state government and the ruling party have come under scathing attacks from Opposition parties who claimed that the decision in the matter was not to accommodate genuine candidates but to protect the jobs of tainted ones.

Political observers feel that hearing in the matter (of the creation of supernumerary posts) has come at a double headache for the state government and the ruling Trinamool Congress which are already strained by an apex court order last week. The Supreme Court upheld an earlier order of a division bench of the Calcutta High Court cancelling 25,753 teaching and non-teaching jobs in state-run schools.

Both the Supreme Court and Calcutta High Court had observed that the cancellation of the entire panel of 25,753 appointments was because of the failure of the state government and West Bengal School Service Commission (WBSSC) to segregate the “genuine” candidates from “tainted” ones .

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CBI court sentences former Punjab cops in 2007 sex scandal

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Chandigarh, April 7: A CBI court in Mohali on Monday sentenced Punjab’s former Senior Superintendent of Police Devinder Singh Garcha and former Superintendent of Police, Headquarters, Paramdip Singh Sandhu to five years of rigorous imprisonment each, in connection with the 2007 sex scandal in Moga.

Besides the imprisonment under the provisions of the Prevention of Corruption Act, the court imposed a fine of Rs 2 lakh each.

Garcha and Sandhu were arrested and charged with blackmailing influential persons to extort money.

Former Inspector Amarjit Singh was sentenced to six-and-a-half years of rigorous imprisonment and fined Rs 2.5 lakh, while former Sub-Inspector Raman Kumar was sentenced to eight years of rigorous imprisonment and fined Rs 3 lakh.

Both were found guilty of implicating prominent businessmen in a false gangrape case to extort money from them.

CBI Special Judge Rakesh Gupta pronounced the verdict after convicting Garcha, Sandhu, Raman Kumar, and Amarjit Singh under Sections 13(1) (D) and 13 (2) of the PC Act on March 29.

Besides corruption, Raman Kumar was also convicted of extortion, while Amarjit Singh was convicted of attempting extortion.

The CBI court acquitted Barjinder Singh, alias Makhan, the son of former Punjab minister Tota Singh, and Sukhraj Singh of all the charges.

The CBI took over the probe on the Punjab and Haryana High Court’s direction on December 11, 2007. A day later, the central probe agency registered a fresh FIR in the case.

The sex scandal involved high-profile politicians and senior police officials extorting rich people by trapping them in a flesh trade case.

As per the investigation, the accused public servants abused their positions and entered into a criminal conspiracy to obtain undue pecuniary gain by corrupt and illegal means.

According to the charge sheet, two women, including Manjit Kaur, in connivance with the police officers and Barjinder Singh, extorted money from influential people by threatening to frame them in sexual abuse cases if they refused to pay up.

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Crime

Actor Ajaz Khan’s Wife Fallon Guliwala Granted Bail in Drugs Case

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Mumbai: Fallon Guliwala, wife of actor Ajaz Khan, who was arrested in November 2024 after narcotics were recovered from her residence, has been granted bail by a special court in Mumbai.

Guliwala had been in custody for over four months. The court has imposed certain conditions for her bail, including the submission of her passport, a restriction on travel, and mandatory attendance before the investigating officer three times a week until the chargesheet is filed.

Her lawyer, Ayaz Khan, argued that she was unaware of the recovered items and that she was not the only occupant of the premises. He also mentioned that the CCTV system was turned off during the raid, and no videography or photography was conducted.

Special Public Prosecutor Vibhavari Pathak opposed the bail plea, stating that a prima facie case existed against Guliwala.

Considering that the seizure process had already been completed, the court granted bail but with strict conditions.

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