CBI Charge Sheets Syndicate Bank Officials, 16 others in Rs 209 Crore Fraud
The Central Bureau of Investigation (CBI) has filed a complaint against businessman Anoop Bartaria and the former Deputy Managing Director (AGA) of Syndicate Bank (AGM) Adarsh Manchanda along with 16 others for allegedly defrauded the bank of Rs 209 crore, officials said.
In its indictment submitted to a special court in Jaipur, the investigative agency also indicted Chartered Accountant (CA) Bharat Bomb in the case, they said.
“It was alleged in the complaint that 118 loan accounts had been sanctioned and disbursed by three branches of Syndicate Bank, namely MI Road branch, Jaipur, Malviya Nagar branch, Jaipur and Udaipur branch. home loan accounts, a term loan account for the purchase of World Trade Park (WTP) commercial property, overdraft limits and foreign letters of credit, ”said CBI spokesperson RC Joshi.
It was further alleged that Bharat Bomb conspired with his employees and others, including the branch officials of Syndicate Bank, and obtained approval of various credit facilities.
The CBI also said the accused cheated the bank to the tune of Rs 209.93 crore using loans based on forged and fabricated documents, invoices, quotes, certificates, among others.
It was also alleged that several of the borrowers were ordinary employees of companies owned by the CA and others and were not eligible for loans of this value, Mr Joshi said.
The CBI, during its investigation, discovered that as part of the plot, Bharat Bomb, Anoop Bartaria and others allegedly approached officials from the MI Road branch of the Syndicate Bank of Jaipur to obtain term loans for the purchase of commercial properties located in World Trade Park, Jaipur the basis of false income tax returns showing inflated income.
They also submitted forged quotes, invoices, purchase orders and work orders; forged CA certificates and audited financial statements, the CBI spokesperson said.
“It was also alleged that the then director (Mahesh Gupta) Syndicate Bank, MI Road Branch recommended and the head of AGM / Branch Head (Manchanda), Syndicate Bank, MI Road branch had sanctioned various facilities of credit by violating bank guidelines and without exercising due diligence, ”he said.
The said bank officials are said to have sanctioned term loans for the purchase of commercial property, foreign letters of credit, home loans, overdraft limits and working capital term loans to various persons, businesses and corporations. linked to the said accused, he added.