CBI booked 3 assistant managers of a Chandigarh based branch of a bank for Rs 321 crore fraud.
By : S K VyasFirst Published : Thursday, Aug 11, 2016 08:48 AM
Jalandhar, August 10, 2016 :
The Central Bureau of Investigation (CBI) has registered a case on a complaint received from Indian Overseas Bank, Zonal Office, Delhi Under Section 120 and 420 of Indian Penal Code (IPC) and Sections of Prevention of Corruption Act, against Ashu Mehra, Nitish Negi and Gaurav Bhatia all the are three then Assistant Managers of the Indian Overseas Bank, Chandigarh. Dinesh Kumar, a Proprietor of M/S Vision Procon, a Chandigarh based private firm; Amanpreet Singh Sodhi, Proprietor of M/S Heights International, Chandigarh Based based private firm; M/S Sai Bhakti Impex Private Limited, Chandigarh, Aman Kirpal, former Director of M/S Sai Bhakti Impex Private Limited, Gaurav Kirpal, then Director of M/S Bhakti Impax Pvt. Ltd, Chandigarh, M/S Color Wave (HK) Limited ,Brigadier (Rtd) M.S, Dullat of Chandigarh and Other unknown public servants and private persons two then Directors of another Chandigarh based private firm and also said firm; a Hong Kong based company; a Brigadier (Retd.) based at Chandigarh and other unknown public servants and private persons.
It was alleged that the accused persons in connivance / criminal conspiracy with the branch officials & with each other siphoned off the bank funds under the garb of Letter of Comfort in favour of Hong Kong based company purportedly issued by officials of Indian Overseas Bank, Chandigarh to Punjab National Bank (PNB), Dubai and Bank of Baroda (BoB), Bahamas. Based on these fraudulently issued Letters of Comfort, these Foreign Banks issued Buyers’ Credit to the account of accused companies abroad. An alleged loss of Rs. 321 crore (approx) was caused to the complainant bank (IOB) and the foreign branches of PNB and BoB.
Searches were conducted today at 14 locations at Chandigarh, Ludhiana, Panchkula, Amritsar and Zirakpur (Punjab) at the premises of accused which led to recovery of incriminating documents.