CBI FILES CHARGSHEET AGAINST TWO SENIOR OFFICERS OF CENTRAL BANK AND OTHERS FOR CAUSING LOSS OF RS. 138 CRORES TO THE BANK
https://tehalkatodayindia.blogspot.com/2010/08/cbi-files-chargsheet-against-two-senior.html
New Delhi ,The Central Bureau of Investigation has today filed a chargsheet against an Assistant General Manager and a Senior Manager of Central Bank of India; eight private accused persons; one private limited company; and partnership firm in the Court of Special Judge for CBI Cases, Bankshall, Kolkata under various provisions of IPC and PC Act, 1988 for allegedly defrauding the Central Bank of India, Burrabazar Branch, Kolkata to the tune of Rs. 138.46 crores.
Kolkata based private limited company (1) with two directors was sanctioned working capial credit limits aggregating to Rs. 15.06 crores from Central Bank of India, Burrabazar Branch, Kolkata for business of raising and sales of granite blocks. Kolkata based firm (2) a partnership firm with the three partners was sanctioned working capital credit limits of Rs.2.50 crores from Central Bank of India, Burrabazar Branch, Kolkata for business of iron, steel and general merchandise etc. These two firms are sister concerns.
Both the Bank officers while working as an Assistant General Manager and a Senior Manager of Central Bank of India, Burrabazar Branch, Kolkata during the period January, 2008 to February, 2009 have conspired with the accused private persons and extended undue financial favours through the CC accounts of both sister firms. The accused persons dishonestly & fraudulently misappropriated the funds of the bank and falsified the branch records and also allowed unauthorized overdrafts through other accounts maintained at the branch.
The modus operandi was that the accommodative & kite flying cheques for huge amounts drawn on the accounts of their group/sister concerns & associates maintained with different banks without sufficient balance were deposited into the credit of CC accounts of the two firms by private accused persons.
After presenting the same through ordinary MICR clearing instead of high value clearing, fraudulent withdrawals of huge amounts were permitted by both the Bank Officers. When the cheques were returned unpaid, fresh lots of accommodative cheques were accepted into the credit of the CC accounts by the accused public servants and the fraudulent transaction continued till the detection of the malpractice by the Bank of during February, 2009.
The accused public servants have also allowed fraudulent withdrawals of funds through the CC accounts of both the sister firms by falsifying the Extension Counter Adjustment Account of the Branch and also resorted to fraudulent adjustment of the irregular CC accounts by permitting unauthorized huge overdrafts through another Current Account of Kolkata based firms (3) maintained at Central Bank of India, Burrabazar Branch. The unauthorized huge withdrawals of funds allowed in the accounts of both sister firms against uncleared effects of accommodative cheques & unauthorized overdrafts permitted in the Current account of Kolkata based firms (3) were concealed by the accused Bank officers from the controlling authority after preparing & submitting false & fabricated control returns to the Central Bank of India, Zonal Office, Kolkata.
Both the accused public servants and the other private main accused persons were arrested during investigation on 03.11.2009. After prolice remand for 14 days and judicial remand thereafter till 31.12.2009, they were released on bail by the Jurisdiction Court.
Kolkata based private limited company (1) with two directors was sanctioned working capial credit limits aggregating to Rs. 15.06 crores from Central Bank of India, Burrabazar Branch, Kolkata for business of raising and sales of granite blocks. Kolkata based firm (2) a partnership firm with the three partners was sanctioned working capital credit limits of Rs.2.50 crores from Central Bank of India, Burrabazar Branch, Kolkata for business of iron, steel and general merchandise etc. These two firms are sister concerns.
Both the Bank officers while working as an Assistant General Manager and a Senior Manager of Central Bank of India, Burrabazar Branch, Kolkata during the period January, 2008 to February, 2009 have conspired with the accused private persons and extended undue financial favours through the CC accounts of both sister firms. The accused persons dishonestly & fraudulently misappropriated the funds of the bank and falsified the branch records and also allowed unauthorized overdrafts through other accounts maintained at the branch.
The modus operandi was that the accommodative & kite flying cheques for huge amounts drawn on the accounts of their group/sister concerns & associates maintained with different banks without sufficient balance were deposited into the credit of CC accounts of the two firms by private accused persons.
After presenting the same through ordinary MICR clearing instead of high value clearing, fraudulent withdrawals of huge amounts were permitted by both the Bank Officers. When the cheques were returned unpaid, fresh lots of accommodative cheques were accepted into the credit of the CC accounts by the accused public servants and the fraudulent transaction continued till the detection of the malpractice by the Bank of during February, 2009.
The accused public servants have also allowed fraudulent withdrawals of funds through the CC accounts of both the sister firms by falsifying the Extension Counter Adjustment Account of the Branch and also resorted to fraudulent adjustment of the irregular CC accounts by permitting unauthorized huge overdrafts through another Current Account of Kolkata based firms (3) maintained at Central Bank of India, Burrabazar Branch. The unauthorized huge withdrawals of funds allowed in the accounts of both sister firms against uncleared effects of accommodative cheques & unauthorized overdrafts permitted in the Current account of Kolkata based firms (3) were concealed by the accused Bank officers from the controlling authority after preparing & submitting false & fabricated control returns to the Central Bank of India, Zonal Office, Kolkata.
Both the accused public servants and the other private main accused persons were arrested during investigation on 03.11.2009. After prolice remand for 14 days and judicial remand thereafter till 31.12.2009, they were released on bail by the Jurisdiction Court.
