CBI sleuths conducted a raid at a house in the Shivalik Enclave locality in Manimajra on Thursday in connection with a Rs Rs 70 crore loan fraud reported at the State Bank of Bikaner & Jaipur branch in Sector 11.
The houseowner, Gurinder Garg, who has been running a firm, Sarvodya Highways, in Sector 8C, Chandigarh, allegedly secured a loan of Rs 52.5 crore in 2011 from the bank by submitting forged documents, reportedly in connivance with the then branch manager, Nishan Lal. Garg never repaid the loan, which with interest has now ballooned to about Rs 70 crore. When the fraud came to light, officials at the bank’s Jaipur headquarters asked the CBI to look into the matter. Detectives of the CBI’s Delhi branch raided the suspect’s house on Thursday.
Suspect under ED scanner too
Garg is also being investigated by the ED along with Chandigarh lawyer Mukesh Mittal in a case of forgery. Nirmal Singh, a resident of Malikpur village in Kharar, together with his family, had entered into an agreement to sell 833 kanals and 9.5 marlas to another company owned by Garg for Rs 30.21 crore, with the offer reportedly being brought by Mittal.
Later, Nirmal accused Mittal and Garg of cheating and forgery as Nirmal’s signature had been taken on a blank paper which was used to forge a receipt confirming payment of Rs 9.37 crore in cash on behalf of all co-owners. The Chandigarh police had, in a report filed by its special investigating team, observed both Mittal and Garg were not able to identify the source of the funds.
Multiple firms
Besides Sarvodya Highways, whose registered office is stated to be SCO 128-129 Sector 8, Chandigarh, a number of bogus companies that are under the ED scanner are also registered here. They include Lake View Services & Promoters, Solan SR Services, Mount Hills Services & Promoters and Shivalik Services & Promoters.
CBI sees links between Matang Sinh and officials-TheHindu
Although the CBI has not yet been able to get the police custody of former Union Minister Matang Sinh in the Saradha chit fund scam case, it has reasons to believe that his interrogation could lead to further discoveries regarding his associations with other senior bureaucrats.
The CBI is tight-lipped over the circumstances and evidence on the basis of which it decided to go ahead with the arrest of the former Minister. However, it is learnt that he allegedly made frantic calls to his contacts when he realised that he was going to be arrested on January 31. A young woman, who had accompanied him to the CBI office in Kolkata, was also spotted making calls purportedly in an attempt to stall his arrest.
It is alleged that at Mr. Sinh’s instance, the then Home Secretary Anil Goswami contacted an agency official in a bid to influence the investigating team’s decision. After several hours of questioning, he was finally arrested. “The agency was left with no choice but to arrest him in the Saradha case,” said an official. This is the first time Mr. Sinh has been arrested by the CBI in any case. He was earlier charge-sheeted in another case of cheating a nationalised bank of Rs. 67 crore in 2013, but was not arrested.
“Based on a complaint lodged by the Canara Bank, the agency’s bank security and forgery unit had registered the earlier case in 2011. Investigations revealed that Ms. Sinh had applied for a loan of Rs.70 crore for a company, M3 Media Private Limited. He allegedly floated several fake companies and got generated false invoices showing purchase of infrastructure and technology,” said a senior CBI official.
Based on the documents, the bank released Rs.67 crore in loan for the company. However, the firm allegedly defaulted on loan repayment causing huge losses to the bank. “The bank declared the account non-performing assets and sent a complaint to the CBI. In 2013, we filed a charge sheet against Mr. Sinh and two chartered accountants who were allegedly involved in the conspiracy to cheat the bank,” said the official.
IAS ‘absent’ as court team reaches secretariat to attach his chairs, cars--Times of India
BHOPAL: Senior IAS officer and principal secretary of water works department Radheshyam Julaniya had to pay dearly for forfeiting bank guarantee of a contractor. District court officials on Thursday initiated proceedings to attach properties of his office at the secretariat along with his official vehicles.Court ordered attachment of all properties, including typing machines, computers, printers, table, chairs, fridge, cooler, official vehicles and jeeps and cars of Julaniya's offices at Gwalior, Morena and Sheopur, which is valued at Rs 8.27cr.
District president of Rasthyawadi Congress Party had lodged a complaint with Lokayukta seeking a probe against Julaniya, accusing him of misusing official position and incurring a loss to state government.
The matter pertains to Rs 150-crore work of renovating Chambal canal in Sheopur district, which was awarded to contractor S K Jain by irrigation department in 2011.
Jain had given a bank guarantee of Rs 13.27 core to the department following a condition that if the contractor fails to complete the project, the amount would be forfeited. The work, though got delayed, was completed. And still, water resources department on Julaniya's order forfeited Rs 13.27 crore of his bank guarantees and deducted Rs 10.66 crore from his payment without valid explanation.
Jain took the matter to dispute review expert (DRE) which decided the contractor cannot be held responsible for delay on part of the government and thus imposition of liquid damages on him was contrary to terms of contract. DRE also ruled there was no clause in the agreement which authorises the employer to seize his bank guarantees. DRE asked the department to return his bank guarantee with interest.
Julaniya challenged the decision before the arbitration and conciliation tribunal which, however, issued decision in favour of Jain ordering the department to return his money with 18 per cent interest. The officer did not comply with the order and challenged tribunal's order in the district court.
On August 30, district court also issued orders in Jain's favour. Jhulaniya then hired an advocate and challenged the matter in high court, but he lost again. Over four years the interest amount mounted to Rs 17 crore. Considering high court's decision, district court sent a team to secretariat to attach is properties.
"I don't know why this officer is incurring so much loss on the state government. As per court order, the government is supposed to return my money with interest of Rs 35 lakh per month. It will increase as long as they continue to delay," Jain told TOI.
He said he had given an option to department to return the bank guarantee without interest, but the officer turned a deaf ear and kept challenging the matter. "Even if he won the case, government will have to pay interest so there was no point delaying the case," said Jain. Julaniya was not available for comment.
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