Pune: The Central Bureau of Investigation has arrested a former Zonal Head, Pune City Zone, Bank of Maharashtra, and a director of a private logistics Company, based at Surat (Gujarat) in an on-going investigation of a bank fraud case.
CBI registered a case against the Surat based private logistics firm and 10 other persons and entities, including unknown officials of Bank of Maharashtra on the allegations that during the period 2012-2014, Bank of Maharashtra had sanctioned various credit facilities to the accused private logistics company, including Working Capital limit, Term Loans & loans to 2802 drivers of said company under “Chalak Se Malak” (from driver to owner) scheme for purchase of trucks.
The alleged loss caused to Bank of Maharashtra through this credit facility was Rs.836.29 crore. It was further alleged that the loans to the drivers were sanctioned without their knowledge and by using forged documents as genuine and the company did not utilize the loan proceeds for the purpose for which they were sanctioned. These loans were allegedly processed by the arrested accused (the then Zonal Head) by ignoring various irregularities and violating existing guidelines of the Bank for the purpose of sanctioning the loan. The other arrested accused is one of the directors in the company and authorised signatory to operate the company’s account.
Search was conducted at the residence of Bank Officer in Pune which led to recovery of electronic gadgets, LIC policies, FDs, two locker keys of banks and other related documents.
There are 3 more cases registered by CBI against the same private company; its directors and others for allegedly duping a few more banks including the Oriental Bank of Commerce, Bank of Baroda and Indian Overseas Bank. These banks allegedly have been defrauded to the tune of over Rs.1566.39 crore.