CBI Punishes Bank Officers

CBI ARRESTS A BRANCH MANAGER OF CENTRAL BANK OF INDIA FOR ACCEPTING A BRIBE OF RS.40,000/- Press Release New Delhi, 16.07.2014               The Central Bureau of Investigation has arrested a Branch Manager, Central Bank of India, Santhur Branch, Pochampalli Taluk, Krishnagiri District (Tamil Nadu) while demanding & accepting a bribe of Rs 40,000/- from the Complainant.               A case was registered against the Branch Manager on a complaint alleging demand of bribe of Rs.40,000/- for sanctioning a loan of Rs.3 lakhs under Unemployed Youth Employment General Programme (UYEGP) to the Complainant.               CBI laid a trap and the accused was caught red handed while accepting the bribe of Rs.40,000/- from the Complainant. Searches were conducted at three places in the premises of accused.               The arrested accused was produced before the Special Judge Court for CBI Cases, Coimbatore and was remanded to Judicial Custody till 30.07.2014. THREE YEARS RIGOROUS IMPRISONMENT WITH FINE OF RS.1.25 LAKH TO THEN CHIEF MANAGER, UNION BANK OF INDIA AND TWO OTHERS FOR CAUSING A LOSS OF RS. 9.57 CRORES (APPROX) Press Release New Delhi, 17.07.2014               The Special Judge for CBI Cases, Bangalore, has convicted Shri K.Ramamurthy, formerly Chief Manager, Union Bank of India, Gandhinagar Branch, Bangalore; Shri L.R.Bhojwani, then Chairman & Shri Sanjay L.Bhojwani, then Director, both of M/s Bhojwani Hotels Pvt Ltd., M.G. Road, Pune and their firms M/s Bhojwani Hotels Pvt Ltd, Pune & M/s Bhojwani Brothers Consultancy & Services Pvt Ltd, Pune. The Court sentenced Sh. K. Ramamurthy, formerly Chief Manager to undergo three years Rigorous Imprisonment with fine of Rs. 1.25 Lakh; Sh. L.R. Bhojwani, then Chairman & Sh. Sanjay L. Bhojwani both to undergo three years Rigorous Imprisonment with fine of Rs.1.50 Lakh each and imposed a fine of Rs. 1.50 Lakh each to their two firms.               A case was registered by CBI on 31.12.2001 against Shri K.Ramamurthy, formerly Chief Manager, Union Bank of India, Gandhinagar Branch, Bangalore and 9-others on a complaint from Union Bank of India, Central Office, Mumbai. The investigation revealed that the then Chief Manager and then Chairman & then Director, both of said firm hatched a conspiracy between 1996 and 2000 at Pune & Bangalore, and cheated the Union Bank of India, Gandhinagar Branch, Bangalore, in the matter of sanctioning & disbursing/availing huge credit facilities in the name of M/s Bhojwani Hotels Pvt Ltd by submitting false & forged deeds of Powers of Attorney/Letters of Authority etc. A loss of Rs. 9.57 Crores (Approx) was caused to Union Bank of India.               After completion of investigation, a charge sheet was filed before the Special Judge for CBI Cases, Bangalore, on 27.12.03 against Shri K.Ramamurthy, formerly Chief Manager, Union Bank of India; Shri.L.R.Bhojwani, Chairman & Shri Sanjay L.Bhojwani, Director, both of M/s.Bhojwani Hotels Pvt Ltd., Pune; M/s.Bhojwani Hotels Pvt Ltd, Pune and M/s. Bhojwani Brothers Consultancy & Services Pvt Ltd, Pune, U/s.120-B r/w.409, 420, 467, 468, 471 IPC and Sec.13(2) r/w.13(1)(d) of PC Act and substantive offences thereof. The Trial Court found the accused persons guilty and convicted them. TWO YEARS IMPRISONMENT WITH FINE OF RS.7500 TO RS.10,000 TO TWO THEN OFFICERS OF BANK OF INDIA AND A DIRECTOR OF PRIVATE FIRM FOR CAUSING LOSS OF RS.50 LAKHS TO BANK Press Release New Delhi, 23.07.2014               The Special Judge, Mirzapur, Ahmedabad(Gujarat) has convicted Shri C.J.Thakkar, the then Branch Manager & Shri K.L.Sindhi, the then Officer, both working in Bank of India, Ellora Park Branch Baroda; Shri Pravin Shah, then Director of M/s Jai Jal Petrochemicals Pvt. Ltd., Baroda and sentenced both Bank officers to undergo two years Simple Imprisonment with fine of Rs.10,000/-each & Shri Pravin Shah, then Director to undergo two years Simple Imprisonment with fine of Rs.7500/-. A fine of Rs.7500/- was also imposed on the said firm.               CBI had registered a case U/s 120-B, 420 of IPC and Sec. 13(2) r/w 13(1)(d) of PC Act.1988 on the allegations that Shri C. J. Thakkar, the then Branch Manager, Bank of India Ellora Park Branch, Baroda entered into criminal conspiracy with other accused persons and sent proposal for Cash Credit facilities in favour of accused firm by suppressing certain facts and during disbursement also, the proper procedure was not followed. A loss of Rs.50 lakhs(approx.) was caused to Bank of India.               A charge sheet was filed against Shri C. J. Thakkar, the then Branch Manager & Shri K.L. Sindhi, the then Officer, both working in Bank of India, Ellora Park Branch, Baroda; Shri Pravin Shah, Director of M/s Jai Jal Petrochemicals Pvt. Ltd., Baroda and his firm & M/s Jai Jal Petrochemicals Pvt. Ltd., Baroda.               The Trial Court found all the three accused persons & the said firm guilty and convicted them. CBI ARRESTS A BRANCH MANAGER OF BANK IN A BRIBERY CASE Press Release New Delhi, 23.07.2014               The Central Bureau of Investigation has arrested a Branch Manager, Allahabad U.P. Gramin Bank, Shekhupur Branch, District – Hamirpur (Uttar Pradesh) while demanding & accepting bribe of Rs.6000/- from the Complainant.               On the basis of a complaint, a case was registered against Branch Manager, Allahabad U.P. Gramin Bank, Shekhupur Branch, District – Hamirpur and a private person under section 120-B of IPC and section 7 of PC Act, 1988 regarding demand of bribe of Rs.6000/- from the Complainant for releasing the bank loan for self employment. CBI laid a trap and arrested the accused while demanding & accepting a bribe of Rs. 6000/- from the Complainant.               The arrested accused is being produced today in the Designated Court at Lucknow. CBI ARRESTS TWO PRIVATE PERSONS ABSCONDING IN SEPARATE CASES RELATING TO ALLEGED BANK FRAUDS

Press Release New Delhi, 25.07.2014

The Central Bureau of Investigation has arrested two private persons who were absconding in two separate cases relating to alleged bank frauds.               CBI had registered a case on 11.01.2012 on the allegations of a bank fraud in which a Cash Credit Loan was sanctioned & disbursed on the basis of fake & forged documents. A loss to the tune of Rs. 7 crores (approx) was caused to Indian Overseas Bank. A chargesheet was filed on 25.09.2012 in the Court of Special Judge, Mumbai u/s 120-B r/w 406, 420, 465, 467, 468 & 471 of IPC and Sec.13(2) r/w.13 (1)(d) of PC Act, 1988.               The accused was absconding since investigation. Subsequently, he was declared Proclaimed Offender on 19.07.2012 by the Trial Court. After sustained efforts, CBI traced the accused and arrested him at Savarkundla, District Amreli (Gujarat).               The other case was registered on 30.05.1998 by CBI wherein Bank of India, Mumbai was cheated to the tune of Rs. 98 lakhs (approx) during the year 1997-1998. It was alleged that the accused persons dishonestly obtained funds from Bank of India, Jacob Circle Branch, Mumbai on a continuous basis by depositing cheques drawn on various accounts in other Banks knowing fully well that accounts on which cheques were so drawn did not have sufficient balance to honour the cheques and allegedly obtained credit of the cheque amount in their account on the day of deposit itself in connivance with the officials of the Bank and thereby utilizing the amount, so credited, to their accounts for their use. CBI filed a chargesheet on 30.12.1999 in the Court of Special Judge, Mumbai u/s 120-B r/w 420, 467, 468 & 471 of IPC and Sec.13(2) r/w. 13(1)(c) & 13 (1)(d) of PC Act, 1988.               The accused was absconding since 2000. Subsequently, he was declared Proclaimed Offender on 07.02.2003 by the Trial Court. CBI traced the accused and arrested him. The arrested accused was produced before the Special Judge, Mumbai and was remanded to Judicial Custody till 28.07.2014.