Nagpur News: The Central Bureau of Investigation has filed a chargesheet in the court of Special Judge for CBI Cases, Nagpur against the then Deputy General Manager; the then Assistant General Manager, both of Union Bank of India, Regional office, Nagpur; the then Chief Manager, Union Bank of India, Ghat Road Branch, Nagpur and three Directors of Nagpur based private firm U/s 120-B r/w 409, 420 of IPC r/w 13(2) r/w 13(1) (d) of Prevention of Corruption Act, 1988 for causing loss to the Bank.
This case was registered on 24.02.2012 against the then Deputy General Manager & the then Assistant General Manager, both of Union Bank of India, Regional office, Nagpur; the then Chief Manager, Union Bank of India, Ghat Road branch, Nagpur and three Directors of Nagpur based private firm U/s 120-B r/w 409, 420 of IPC r/w 13(2) r/w 13(1) (c) & (d) of Prevention of Corruption Act, 1988. It was alleged that officials of Union Bank of India had sanctioned & released credit facility to the company and committed criminal breach of trust in respect of the funds of the bank over which they had dominion and cheated the bank.
After registration of the case, searches were carried out at the residential premises of bank officials, directors of the company & office premises of the company. Certain incriminating documents were recovered.
The CBI investigation revealed that officials of Union Bank of India and directors of the company were in criminal conspiracy and in furtherance of that criminal conspiracy had allegedly sanctioned credit limit of Rs.300 lakh (approx) to the company which was enhanced subsequently. The loan amount so sanctioned was diverted/siphoned-off for other than business activity from the account of the said private firm and transferred in the accounts of sister concern, which resulted as a Non Performing Asset with an outstanding amount of Rs. 4,58,94,771/-(approx).
After completion of investigation, CBI filed a chargesheet.
