Mumbai News: Bank Official, 2 Others Booked By CBI In Graft Case

The Central Bureau of Investigation (CBI) has launched an investigation against a dismissed State Bank of Bikaner & Jaipur (SBBJ) official and three other persons. The CBI sources claimed that the accused public servant had allegedly facilitated in sanction and disbursal of loan worth Rs17.91 crores to a private company on the basis of inflated valuation of properties without verifying the same and in lieu of the same, had obtained illegal gratification.

According to the CBI, a reliable information was received from a source that during the period 2013-14 the public servant while working as Relationship Manager of Medium Enterprises (RMME) / Chief Manager in erstwhile SBBJ, Mumbai (dismissed from service by SBI in 2021) was handling loans of Medium Enterprises in Thane, Belapur, Panvel, Ghatkopar and other regions of Mumbai, had allegedly entered into a criminal conspiracy with the proprietor of a private company and two other persons and in furtherance of the said criminal conspiracy the accused public had facilitated in sanction and disbursal of loan worth Rs17.91 crores to the company on the basis of inflated valuation of properties without verifying the same and in lieu of the same, he had obtained illegal gratification of Rs5 lakh.

"Information further revealed that the said loan was sanctioned in 2014 on the recommendation of the accused public servant, who in connivance with the private persons, showed inflated valuation of properties and later the loan funds were diverted and the stocks were disposed causing loss to the SBBJ Bank. Subsequently, the loans turned into NPA," said a CBI official. The CBI has also managed to get details of the money trail of the alleged bribe amount by analysing the bank account details of the accused persons, sources said.

A case has been registered by the CBI under on charges of criminal conspiracy, public servant obtaining undue advantage for dishonest performance of duty, giving undue advantage to a public servant for improper performance of duty and abetment of offence under the relevant sections of the Indian Penal Code and Prevention of Corruption Act.

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