CBI Register Cases against Officials of Banks and Post Office in Demonetisation Fraud

CBI REGISTERS TWO SEPARATE CASES AGAINST OFFICIALS OF BANK AND POSTAL DEPARTMENT FOR ALLEGED VIOLATION OF RBI GUIDELINES
Press Release
New Delhi, 08.04.2017
      The Central Bureau of Investigation has registered a case against Special Assistant & Cash Officer, State Bank of India, Chilakaluripet Bazar Branch, Guntur District (Andhra Pradesh) and unknown others U/s 120-B r/w 420, 409 of IPC and Section 13(2) r/w 13(1)(d) of PC Act, 1988.

It was alleged that subsequent to the Govt. of India Notification dated 08.11.2016, withdrawing the legal tender of existing Rs.500/- and Rs.1000/- notes, Reserve Bank of India issued directions to all the banks restricting the cash withdrawal over the counter per day to Rs.10,000/- and aggregate per week to the tune of Rs.20,000/-. The accused entered into criminal conspiracy with known persons and exchanged SBNs (Rs.1000/- and Rs.500/- demonetised currency notes) to the tune of Rs.44,35,500/- (approx) in 86 transactions without obtaining the details of SBNs and customer’s particulars (KYC documents) in the prescribed form and thus favoured his known persons in exchange of SBNs ignoring the interest of public who were in dire need of legal tender in view of the demonetisation. Search was conducted at the residential premises of the accused at Guntur.

The another case has been registered against the then Sub-Postmaster, Sub-Post Office, Gandhi Place, Visakhapatnam & then Postal Assistant both working in Sub-Post Office, Gandhi Place, Visakhapatnam and unknown public servants / private persons U/s 120-B r/w 406, 409, 420 & 477-A of IPC and Section 13(2) r/w 13(1)(d) of PC Act, 1988

It was alleged that during the period between 10.11.2016 and 24.11.2016, the said Postal Officials while working in the Sub-Post Office, Gandhi Place, Sriripuram, Visakhapatnam had entered into criminal conspiracy with the unknown private individuals and in pursuance of the conspiracy, they had unauthorizedly & fraudulently exchanged Rs. 21,88,000/- (approx) of valid denominations against the Withdrawn Old Series (WOS) currency notes without obtaining the valid identity proofs of the tenderers on commission by violating Guidelines issued by RBI and Government of India. Searches were conducted at the residential premises of the accused at Visakhapatnam.

The investigation of both the cases is in progress.

http://cbi.nic.in/pressreleases/pr_2017-04-08-4.php

 

CBI REGISTERS A CASE AGAINST TWO OFFICIALS OF POSTAL DEPARTMENT AND OTHERS FOR ALLEGED VIOLATIONS OF RBI GUIDELINES AND CONDUCTS SEARCH
Press Release
New Delhi, 08.04.2017
      The Central Bureau of Investigation has registered a case U/s 120 B r/w 420 & 406 of IPC and Section 13(2) r/w 13(1)(d) of the Prevention of Corruption Act, 1988 against then In-charge Post Master; then Postal Assistant, both working in Saheed Nagar Post Office, Bhubaneswar; a Superintendent of Central Excise; six private persons and unknown others. It was alleged that then In-charge Post Master and then Postal Assistant abused their official position and fraudulently allowed huge cash deposits to the tune of Rs. 36,80,930/- (approx). in the Postal Savings Accounts of 07 persons with Saheed Nagar Post Office, Bhubaneswar, on 09.11.2016 which was declared as a non-business working day by the Postal Department (Govt. of India) after announcement of demonetization of old notes i.e. withdrawal of legal tender character of existing Rs. 500/- & Rs. 1000/- notes by the Govt. of India on 08.11.2016.

Searches were conducted at the office & residential premises of accused including alleged depositors / Postal account Holders in & around Bhubaneswar which led to recovery of incriminating documents. A bank locker key; documents related to various bank accounts & immovable property (a Duplex at Kalinga Nagar in Jajpur district & land / plots at Ugalapada & Patharagadia in Khorda district); a cash of Rs. 04.40 lakh (approx) were recovered from the residence of one of the depositors (a Superintendent of Central Excise at Bhubaneswar). Investigation of the case is continuing.

http://cbi.nic.in/pressreleases/pr_2017-04-08-2.php

 

CBI REGISTERS A CASE AGAINST BRANCH MANAGER OF PUNJAB NATIONAL BANK & OTHERS FOR ALLEGED VIOLATION OF RBI GUIDELINES
Press Release
New Delhi, 08.04.2017
      The Central Bureau of Investigation has registered a case against Branch Manager & Assistant Manager, both of Sadhopur Ki Jhal Branch, Punjab National Bank, Dadri, Gautam Budh Nagar (Uttar Pradesh); a Proprietor of Ghaziabad based private firm and other unknown persons U/s 120-B, 420, 468, 471 of IPC and Section 13(2) r/w 13(1)(d) of Prevention of Corruption Act, 1988.

It was alleged that the Branch Manager (Scale-II) and Assistant Manager (Scale-I), both working in Punjab National Bank, Sadhopur Ki Jhal Branch, Dadri, Gautam Budh Nagar (Uttar Pradesh) entered into criminal conspiracy and in pursuance thereof, a current account was opened in favour of one Proprietor of Ghaziabad based private firm on the basis of forged & bogus documents. It was further alleged that post demonetization, in contravention of the guidelines dated 8.11.2016 issued by the Reserve Bank of India, the public servants in collusion with other unknown persons facilitated the deposit of a sum of around Rs.2,13,40,000/- (invalid specified bank notes – withdrawn bank notes in the denominations of Rs.500/- and Rs.1000/-) in the Current Account opened in the name of said Proprietor on different dates between 11.11.2016 to 29.11.2016. It was also alleged that the public servants deliberately omitted to collect the identity proof of the depositors (as mandated by Reserve Bank of India) and thereby facilitated these depositors to conceal their identity & dishonestly allowed the deposit of invalid specified bank notes to the tune of Rs.2,13,40,000/- (approx) in contravention of the guidelines issued by RBI and thus cheated the Government of India by depositing the invalid Specified Bank Notes.

Further investigation is continuing.

http://cbi.nic.in/pressreleases/pr_2017-04-08-3.php

 

CBI REGISTERS TWO SEPARATE CASES AGAINST CERTAIN ACCUSED FOR CAUSING AN ALLEGED LOSS TO THE TUNE OF RS. 1301 CRORE (APPROX) & Rs. 43.77 CRORE (APPROX) TO TWO BANKS AND CONDUCTS SEARCHES
Press Release
New Delhi, 09.04.2017
      The Central Bureau of Investigation has registered a case u/s 120 B r/w 420, 467, 468, 471 of IPC on a complaint from Punjab National Bank related to an alleged fraud committed by Chandigarh based private firm & its three directors and unknown others. An alleged loss of Rs. 1301 crore (approx.) was caused to the complainant bank.

It was further alleged that the said accused in criminal conspiracy with each other availed credit facilities i.e Term Loans, Working Capital limits etc from Punjab National Bank, Chandigarh. It was also alleged that the said firm got discounted forged & fabricated export bills and fraudulently siphoned off the disbursed bank funds. These discounted export bills remained unpaid and thus caused wrongful loss to the bank.

Searches were conducted today at 03 places including residence & official premises of accused at Chandigarh and Mohali (Punjab) which led to recovery of incriminating documents and electronic evidences.

The another case has been registered u/s 120 B r/w 420, 467, 468, 471, 477A of IPC and u/s 13(2) r/w 13(1)(d) of PC Act on a complaint from Canara Bank relating to an alleged fraud committed by a Jabalpur based private firm & its four directors and the then Branch Incharge , Jabalpur Branch, Canara Bank  & unknown others. An alleged loss of Rs. 43.77 crore (approx.) was caused to the complainant bank.

It was further alleged that the said accused in conspiracy with each other availed credit facilities from Canara bank, Jabalpur branch on the basis of fake and fabricated documents. The funds disbursed by the bank were siphoned off, causing wrongful loss to the bank.

Searches were conducted today at 05 places including residence & official premises of accused at Jabalpur and Reva (Madhya Pradesh) which led to recovery of incriminating documents.

Further investigation in both the cases is continuing.

http://cbi.nic.in/pressreleases/pr_2017-04-09-1.php

 

CBI REGISTERS TWO SEPARATE CASES AGAINST MANAGER OF EPIL, DELHI AND OTHERS IN AN ALLEGED BRIBERY
Press Release
New Delhi, 08.04.2017
      The Central Bureau of Investigation has registered two separate cases against Manager, Engineering Projects India Ltd. (EPIL), New Delhi on the allegations that the officer had obtained illegal gratification from two separate companies for awarding them contracts for public works in Tripura and Kolkata. The alleged demand of bribe of Rs 1.5 crore(approx) associated with the cases, about Rs.50 Lakh was routed through various companies and individuals related/associated with the accused.

In the first instance, the accused officer allegedly obtained illegal gratification from a Proprietor (also an accused & resident of Kolkata) of Construction Company based at Ambedkar Nagar(UP) for building project in, New Town, Kolkata Development Authority.

In the second case, it was alleged that the illegal gratification was obtained from another accused, a Director of Construction company based at Guwahati(Assam) for public works at the ONGC Tripura Power Company, Udaipur, Tripura.

Searches were conducted over 8 states at more than a dozen locations, including Lucknow, Bhagalpur, Purnia, Bastar, Bilaspur, Kolkata, Guwahati, Udaipur(Tripura), Bhubasneshwar, Raurkela and Delhi. The significant information and evidence that emerged during these searches are being examined for further investigation.

http://cbi.nic.in/pressreleases/pr_2017-04-08-1.php

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