CBI unearths Rs 6.5 cr loan scam in Bank of Baroda

Excelsior Correspondent
JAMMU, Apr 17: Central Bureau of Investigation/ Anticorruption Bureau Jammu unearthed a loan scam of Rs 6.5 crore in Bank of Baroda,Gandhi Nagar Branch and registered case against TR Dogra, the then Chief Manager, N K Bhardwaj, the then Branch Manager (presently posted as Senior Manager SIO Mumbai Branch), CL Koul, the then Branch Manager and Rajesh Raina and his wife Meenakshi Raina.
According to the FIR, an information was received that bank officials sanctioned and disbursed a number of loans fraudulently in favour of Rajnesh Raina and his wife Meenakshi Raina and their firms against already mortgaged properties which were allegedly fraudulently overvalued.
On account of abuse of their official position in sanctioning, disbursement and lack of monitoring, the accounts turned NPA with a total outstanding of Rs 6.5 crore.
The CBI, after preliminary enquiry, found that bank officials namely T R Dogra, N K Bhardwaj and C L Koul abused their official position by willfully accepting securities of very low value while repeatedly sanctioning/processing loans applied by Rajesh Raina and his wife Meenakshi Raina. In this way, they caused loss to the tune of Rs 6.5 crore to the exchequer.
On the basis of preliminary enquiry, CBI registered FIR under Section 120-B read with 420 RPC and 5(2) read with 5(1) (d) of J&K PC Act against the accused persons.

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