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

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CBI

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

Two Held With ₹68 Lakh Cash Near India-Myanmar Border In Mizoram; Heroin Worth ₹78 Lakh Seized

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Aizawl: Two persons were arrested with Rs 68 lakh in cash near the India-Myanmar border in east Mizoram’s Champhai district, officials said on Thursday.

Acting on a tip-off, the Assam Rifles intercepted a vehicle at Zote village on August 11, they said.

Upon thorough checking, Rs 60 lakh in cash was recovered from two persons in the vehicle.

The duo, identified as Joseph Lalthansanga and Vanlalruati, could not state any proper reason why they were carrying such a huge amount of cash. They were subsequently handed over to the police for legal action, officials said.

In another operation, the Assam Rifles recovered 94.6 gram of heroin, worth Rs 78 lakh, from the village on Wednesday.

The drugs were handed over to the Excise and Narcotics Department, officials said.

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Crime

Jalgaon Tragedy: 8 Suspects Arrested For Kidnapping, Mob Lynching And Killing 21-Year-Old Suleman Khan

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Jalgaon: Suleman Rahim Khan Pathan, a 21-year-old man, was killed through beating in Jalgaon district of Maharashtra. The incident occurred on Monday when Suleman traveled to Jamner to complete online applications for police recruitment. In the afternoon, as he sat in a cafe with a girl, 8 to 10 men grabbed his mobile phone and unexpectedly assaulted him.

They pulled Suleman to his village and violently assaulted him, making him lose consciousness. When his relatives attempted to rescue him, the assailants reacted with violence towards them as well. Suleman’s 80-year-old grandfather was also affected. The assailants showcased him on the street and struck him with wooden clubs.

Suleman was taken to the hospital by his villagers, where he was pronounced dead by doctors. His father stated that his son was not dating any girl, and during the confrontation, the villagers were unable to assist because of their fear.

According to Suleman’s father, Rahim Khan, on the day of the incident Suleman was working with his father, when around 11 am Suleman told his father he is going to fill up a Police recruitment form after which the people kidnapped and beat him. The people was brought to his home at around 4pm. When the father tried to intervene the mob started attacking him and other members of the family.

Police Arrests 8 Suspects

The authorities have apprehended 8 suspects related to this case up to now. The initial four suspects were apprehended on Tuesday: Abhishek Rajkumar Rajput (22), Ghanshyam also known as Suraj Biharilal Sharma (25), Deepak Bajirao (20), and Ranjan also referred to as Ranjit Ramakrishna Matade (48).

While the other four were taken into custody on Wednesday. All the defendants have been placed in police detention until August 18. The arrests were confirmed by the inspector of the Jamner police station.

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Palghar News: Young Man Assaulted With Axe In Broad Daylight, Mob Tie Up Attacker Before Police Arrest

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Palghar, Maharashtra: A broad daylight attack in a busy Palghar neighbourhood shocked residents on Wednesday after a young man allegedly assaulted a 35-year-old with an axe, leaving him seriously injured.

The incident occurred around 4 p.m. at the main square in the Kamala Park housing colony on Mahi Road. According to police sources, the accused, believed to be around 27 years old, struck Baboolal Fulchand Yadav in the face with an axe, causing severe injuries. Yadav was immediately rushed to a hospital, where he is undergoing treatment.

Eyewitnesses said the attacker attempted to flee, but local residents intervened, catching him and tying him to a tree with ropes before thrashing him. Police arrived shortly afterward, to control the mob and take the accused into custody 

The motive behind the attack is still under investigation, and the process of registering a formal case in ongoing. The suspect’s identity had not been officially confirmed at the time of reporting.

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