CBI raids in Bhopal in bank frauds over ₹3,700 crore
Searches Were Conducted In 100 Locations All Over India
TIMES NEWS NETWORK
Bhopal:26.03.2021
The Central Bureau of Investigation (CBI) on Thursday conducted searches at more than 100 places across India, including Bhopal in connection with more than 30 cases of bank fraud amounting to over Rs 3700 crore.
CBI’s ACB branch and AC4 (Vyapam) branch has registered two separate cases. In first case by the ACB Bhopal, raids were carried out at the residential premises of Siddhpal Singh Bhadoria and associates following a loan of Rs 4.10 crore the company had taken from a nationalised bank in 2016. Officials said that the company had mortgaged a plot in Rohit Nagar for a CC limit. This plot was sold in 2015. Raids were conducted at the premises of Siddhpal’s office and residential premises of a former chief manager of the bank named Satish Chandra Agrawal.
Similarly, the Vyapam branch has carried out searches in five places at Gujarat in connection with Rs 196 crore bank loan fraud case registered against Jyoti Power cooperation limited. Searches were conducted at the premises of Directors Kamlesh and Sanjeev Mewani.
According to an official release, these searches are part of special drive to book the fraudsters on the complaints received from a clutch of nationalised banks in India.
The various cities/towns where the searches were conducted include Kanpur, Delhi, Ghaziabad, Mathura, Noida, Gurugram, Chennai, Thiruvarur, Vellore, Tiruppur, Bangalore, Gantur, Hyderabad, Bellery, Vadodara, Kolkata, West Godavari, Surat, Mumbai, Bhopal, Nimadi, Tirupati Visakhapatnam, Ahmedabad, Rajkot, Karnal, Jaipur & Sri Ganganagar.
During searches, various incriminating documents and other material/digital evidences have been recovered. It may be stated that CBI has been receiving a number of complaints from various banks alleging cheating, diversion of funds, submission of fake/forged documents by different defaulting firms while obtaining loans/credit facilities etc. There have been allegations that such firms have been turning defaulters resulting into the loans becoming Non Performing Assets (NPAs), thus causing heavy loss to the public sector banks. After scrutiny, the cases are registered by CBI. Thorough investigation is carried out in order to book the culprits, take them to face the law and endeavour to salvage public money.
These searches are part of special drive to book the fraudsters on the complaints received from a clutch of nationalised banks alleging cheating, diversion of funds, submission of fake/forged documents by different defaulting firms while obtaining loans
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