CBI Arrests Assistant Commissioner of Central Excise, Mumbai in Bribery Case of Rs.1.25 crore

CBI ARRESTS AN ASSISTANT COMMISSIONER OF CENTRAL EXCISE & A PRIVATE PERSON IN AN ALLEGED BRIBERY OF RS.1.25 CRORE (APPROX)

Press Release New Delhi, 08.05.2017

The Central Bureau of Investigation has arrested an Assistant Commissioner of Central Excise, LTU, Mumbai and a private person while demanding & accepting an alleged bribe of Rs.1.25 crore (approx).

A case was registered against Assistant Commissioner, Central Excise, LTU, Mumbai; unknown Public Servants and unknown others U/s 120-B of IPC and Section 7 & 9 of PC Act, 1988 on a complaint. The complainant has alleged that in the year 2016, he had received notice from the office of Enforcement Directorate and during April, 2017, one person stating to be from Enforcement Office called the complainant & asked him to meet the person to whom he would refer, failing which, he would be arrested. Thereafter, the complainant was allegedly asked to meet the Assistant Commissioner sitting at Central Excise office at World Trade Centre, Cuffe Parade, Mumbai. It was further alleged that when the complainant met the Assistant Commissioner, the latter demanded a bribe of Rs. 15 crore (approx) to sort out their matter pending in ED and told them to arrange 25-30% amount of the bribe within 1 or 2 days as first instalment, failing which he would be arrested.

CBI laid a trap and the Assistant Commissioner was caught while demanding & accepting a bribe of Rs.1.25 crore (approx). During investigation, the accused informed CBI that he was to deliver this bribe amount to a private person. The tainted money of Rs.1.25 crore(approx) was handed over to said private person and he was also caught while accepting the said bribe amount. Searches were conducted at the residence of the public servant which revealed incriminating documents. Both the accused were produced in the Designated Court, Mumbai and remanded to police custody till 15.05.2017. Further investigation is continuing.

Source: http://www.cbi.nic.in/pressreleases/pr_2017-05-08-2.php

CBI ARRESTS THEN CHAIRMAN/PROMOTER OF A PRIVATE COMPANY IN AN ON-GOING INVESTIGATION OF A CASE RELATING TO ALLEGED LOSS OF RS. 2223.13 CRORE (APPROX) TO 20 BANKS

Press Release New Delhi, 08.05.2017

The Central Bureau of Investigation has today arrested then Chairman/Promoter of a private company based at Kolkata in an on-going investigation of a case relating to alleged loss of Rs.2223.13 crore(approx) to 20 Banks. The accused earlier fled India for Dubai. He was intercepted at Mumbai Airport while coming from Dubai.

A case was registered against a private company based at Kolkata; its Chairman/ Promoters/ Directors; other executives & other unknown persons and unknown Bank officials under section 120-B r/w 420,468 & 471 of IPC and Section 13(1)(d) r/w 13 (2) of PC Act, 1988 on a complaint from SBI relating to the allegations of cheating 25 consortium member banks including 20 Nationalized Banks (led by SBI) to the tune of Rs. 2672 crore (approx.). An alleged loss of Rs. 2223.13 crore (approx.) was caused to 20 Nationalized Banks. It was alleged that the accused had defrauded the banks through diversion of funds, fraudulent exports to Shell Companies floated at Hong Kong, Singapore, UAE etc. with the help of employees/associates, non-realization of export proceeds from the Shell Companies so floated. It was also alleged that the accused was availing import finance from one member Bank of the consortium for import of gold; but after manufacturing of gold jewellery, they were availing export finance from another member Bank so that the proceeds of export could not be realized by the Banks to pay off the liability of import finance. It was further alleged that the accused had siphoned-off the working capital loans for long term uses such as construction of factory and paid off other liabilities. The accused allegedly shipped stocks offered as primary security to its foreign subsidiaries without the knowledge of the lenders and also falsely projected huge loss to the Banks purportedly suffered through a bogus bullion trade and a merchanting trade, for which the Banks did not finance.

The arrested accused is being produced today before the competent court at Mumbai. Further investigation is continuing.

Source: http://www.cbi.nic.in/pressreleases/pr_2017-05-08-1.php

CBI DETAINS AN ABSCONDING ACCUSED FROM GOA AIRPORT ON THE BASIS OF LOC IN A BANK FRAUD CASE

Press Release New Delhi, 09.05.2017

The Central Bureau of Investigation has detained an absconding accused at Goa Airport on the basis of LOC in a Bank fraud case and obtained 4 days Transit remand. The accused will be produced before the Special Judge, Ahmedabad.

CBI had registered a case on 12.11.1997 against 6 persons including four bankers. On completion of investigation, chargesheet was filed on 25.09.2000 before the Special Judge, Ahmedabad against 28 accused persons including 4 bankers. It was alleged that then Director of Ahmedabad-based builder’s company(main accused in the case) had obtained credit for 31 cheques amounting to Rs.3.77 crore(approx) fraudulently and caused a loss of Rs.3.77 crore(approx) to Bank of Baroda. The said absconding accused, then Director of Mumbai-based company and others had been instrumental in aiding the said main accused by issuing these cheques to him.

It was further alleged that the absconding accused was a Proclaimed Offender and an LOC was opened against him. Later, an RCN was also issued against him and an extradition proposal was also sent to Canada. An information was received that he had changed his name and would be travelling to India. He was detained at Goa airport on the basis of the LOC opened by the CBI.

Source: http://www.cbi.nic.in/pressreleases/pr_2017-05-09-1.php

CBI ARRESTS A DIRECTOR OF DELHI BASED PRIVATE COMPANY AND ANOTHER PERSON IN AN ALLEGED BANK FRAUD CASE OF RS. 24.64 CRORE (APPROX)

Press Release New Delhi, 11.05.2017

The Central Bureau of Investigation has arrested a Director of a Private company based at New Delhi and another person in a case relating to alleged fraud of Rs. 24.64 crore (approx) in Canara Bank.

A case was registered on 18.05.2016 U/s 120 B r/w 420, 467, 468, 471 of IPC and Section 13 (2) r/w 13 (1) (d) of PC Act, 1988 against the private Steel Company based at Delhi & its two Directors; unknown Public Servants and other unknown Private Persons.

It was alleged that said Company through its Director had obtained limits for OCC/ODBD of Rs 10.00 crore and ILC/FLC of Rs 10.00 crore from Canara Bank, Connaught Circus, Delhi. It was also alleged that these Limits were fraudulently secured by hypothecation of Stocks & book debts of the company and fraudulently collaterally secured by the Equitable Mortgage of the two properties which were not in possession of the accused at the time of sanction of the loan. It was further alleged that 23 Inland Letters of Credit were fraudulently opened by said Company during the period of 30.03.2013 to 30.12.2013 in Canara Bank in favour of 8 beneficiaries which were devolved on the Bank. The funds of the alleged LCs were diverted by the accused persons. Funds from the cash credit account and ILC/FLC were also allegedly siphoned off to the sister concerns of the said company and were further utilized by the accused persons for the purposes other than for which the loan was sanctioned. An alleged loss to the tune of Rs.24.64 crore (approx) was caused to Bank. The account was turned NPA on 31.03.2014.

       Both the arrested accused were produced before the CMM, Patiala House Courts, Delhi and granted 6 Days Police Custody.

Source: http://www.cbi.nic.in/pressreleases/pr_2017-05-11-1.php