New Delhi, Jan 20 (UNI) The Central Bureau of Investigation (CBI) has conducted searches at 47 places in connection with 22 loan fraud cases of Punjab National Bank (PNB) branches of MP.
"Searches were conducted at the office and residential premises of accused at 47 places at Bhopal, Ujjain, Indore and Vidisha (MP); Kaithal and Gurugram (Haryana); Hoshiarpur (Punjab); Noida and Agra (Uttar Pradesh); Mumbai (Maharashtra) and Delhi. It led to the recovery of incriminating documents, stamps, hard discs and details of Bank lockers," the probe agency said in a statement here on Saturday.
The CBI said that it had registered 22 cases against certain officials including Chief Managers of PNB relating to four Branches at Bhopal and Ujjain (MP) and other accused on a complaint from the Bank.
The probe agency said it was alleged by the bank in its complaint that certain officials of the Bank fraudulently sanctioned and disbursed loans to private persons dealing in the business of Coal during the period from 2011 to 2016.
It was further alleged that the loans were sanctioned against inflated valuation of the collateral securities, the CBI said.
The CBI said the borrowers disposed off the primary security without depositing the proceeds with the Bank, thereby causing alleged loss of around Rs 80 crore.
UNI DS SHK 2013