NEW DELHI: The Central Bureau of Investigation (CBI) has registered an alleged corruption case against three Indian Overseas Bank employees, three private firms and a middle man from causing a loss of Rs 321 crore to the government. The agency carried out raids at 14 locations at Chandigarh, Ludhiana, Panchkula, Amritsar and Zirakpur (Punjab) at the premises of accused which led to recovery of incriminating documents.
“The case has been registered under various sections of Indian Penal code and Prevention of Corruption Act on a complaint filed from Indian Overseas Bank in Chandigarh,” said a CBI officer.
The case has been registered against three then Assistant Managers of Indian Overseas Bank in Chandigarh – Anshu Mehra, Nitish Negi and Gaurav Bhatia. The case has also been filed against Dinesh Kumar, then Proprietor of Vision Procon in Chandigarh, Amanpreet Singh Sodhi, then Proprietor of Heights International in Chandigarh, Aman Kirpal and Gaurav Kirpal, then two directors of Bhakti Impex Pvt. Ltd in Chandigarh, a private firm Colour Wave (HK) Ltd based in Hong Kong and Brigadier (Retd.) M S Dullat and unknown public servants and private persons.
It was alleged that the accused persons in connivance with the branch officials and with each other siphoned off the bank funds under the garb of Letter of Comfort in favour of Hong Kong based company purportedly issued by officials of Indian Overseas Bank in Chandigarh to Punjab National Bank in Dubai and Bank of Baroda in Bahamas.
“Based on these fraudulently issued Letters of Comfort, these Foreign Banks issued Buyers’ Credit to the account of accused companies abroad. An alleged loss of Rs 321 crore was caused to the IOB and the foreign branches of PNB and BoB,” said CBI officer.
The officer further stated that further investigation into the case is still in progress.