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Kindly permit me to bring to your kind attention the dubious irregular lending of many banks, causing several thousand crore loss.

Published: 01st September 2020 04:26 AM  |   Last Updated: 01st September 2020 04:26 AM   |  A+A-

Express News Service

CHENNAI : Kindly permit me to bring to your kind attention the dubious irregular lending of many banks, causing several thousand crore loss. I spent seven years of my life and several lakhs to unearth authentic documentary evidence for around 50–60 such malpractices. 

For example, I narrate a tiny borrowing here: 
Borrower: M/s Sai Kripa Constructions and others 
Lender: Central Bank of India 
Due: `12.03 crore as on 31.10.2016 
E-Auction Sale Notice: Dated 4.11.2016
Reserve Price: `52,00,000/- 
Land extent: Ac.2.93 cents, Soorai Village (bought during 2006)

The above borrowers buy the total land extent, Ac.2.93 cents for around `2 lakh. Just after five years of purchase, they register Deposit of Title Deeds, in favour of Central Bank of India, for a sum of `8 crore.  Three years after publishing e-Auction Sale Notice on November 4, 2016, Central Bank of India issues Sale Deed to buyers at `30.96 lakh. Sale notice contains another property also, same borrowers, Ac.1.55 cents, Peru Nagar Village. Reserve Price: `26 lakh; purchased by one of the said borrowers in August 2012 for `24 lakh. At the same time, the said borrower registers some inexplicable document favouring Central Bank of India, for the entire extent of Ac.1.55 cents.

On May 8, 2019, three years after the attached e-Auction Sale Notice, two months after selling first property at Soorai Village, Central Bank of India issues Sale Certificate for the entire extent of Ac.1.55 cents, the total consideration of `13.92 lakh. Borrowers buy property for around `2 lakh, register Deposit of Title Deeds for `8 crore, becomes NPA, total outstanding shoots up to `12 crore and more, bank recovers only around `45 lakh! The malpractice happened at the very beginning itself – bank lending `8 crore against a property that is hardly worth a few lakhs.

This is against the lending principles of Reserve Bank of India. This is not an isolated incident. As an individual, I am holding documentary evidence for 50-60 such cases running to several thousand crore. The above example happens to be the smallest involving minimal documentation. Kindly advise me on how to expose this? Am I eligible for some government reward?— ShankarGo to the CBI and give a complaint. You may not qualify yourself as a whistleblower for getting any incentive payment since the matter is covered by documents and available with the bank itself.



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