CBI books bank manager, two others for loan fraud

As per the FIR, the case was registered on June 14 following a complaint by the SBI Thiruvananthapuram business office regional manager.

Published: 25th June 2022 04:30 AM  |   Last Updated: 25th June 2022 04:30 AM   |  A+A-

fraud, loan fraud

Representational image (File photo | AP)

By Express News Service

KOCHI: The CBI’s anti-corruption unit in Kochi has registered a case against an SBI branch manager and two others for sanctioning X-press credit loans to the tune of Rs 16.9 crore by receiving forged documents. A case has been registered against SBI Kuravankonam branch manager Nisha J Mohan, MR Abhitech Assets (Nettayam) director Abhijith Mohan and Fycus IT Solutions (Manacaud) director Aneesh Salleswaran Kumar.

As per the FIR, the case was registered on June 14 following a complaint by the SBI Thiruvananthapuram business office regional manager. The loans were sanctioned between July, 2019 and July, 2021. “The bank manager abused her official position and entered into a criminal conspiracy with other two accused and unknown others and sanctioned 166 X-press credit loans based on false and forged documents discarding the bank’s rules and instruction,” the FIR said.

Further, Nisha had sanctioned Rs 9.41 crore (in 89 loans) and Rs 5.84 crore (54 loans) to persons believed to be the employees of Abhitech Assents and Fycus based on forged documents created by Abhijit and Aneesh, respectively. Another allegation against the bank manager is that she sanctioned 23 loans amounting to Rs 1.68 crore to employees of 18 other organisations.

“There were no proper salary particulars, tax returns, employment certificates or liability certificates obtained in any loan account. The salary certificates themselves appeared prima facie to be fabricated and forged as no statutory deduction is mentioned in them. The loan proceeds are subsequently transferred to accounts linked to accused persons as per the bank records,” a CBI official said.

Similarly, a preliminary probe by the CBI revealed there are no records of regular salary credit to the bank account of the individual borrowers either before or after the sanction of the loans. It is against the requirement of the bank to have a minimum of six months’ salary payment particulars.

In this case, there is only one month’s salary credit and that too is one or two days before the date of loan sanctioning. Even after the disbursement, there is no regular payment of salary to the bank account of the borrowers.

loan fraud


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