CBI Registers Two Cases Against AGM of Bank of Maharashtra

Published: 11th February 2015 11:32 PM  |   Last Updated: 11th February 2015 11:32 PM   |  A+A-


NEW DELHI: CBI has registered two separate cases against an Assistant General Manager of Bank of Maharashtra for allegedly causing a cumulative loss of nearly Rs 55 crore by extending credit against properties evaluated at highly inflated rates.

In the first case, in addition to A M Raje, the then AGM, persons including proprietors/partners of Aurangabad-based private firms and two panel valuers of the bank for allegedly causing an alleged loss of Rs 42.38 crores.

In second case, besides Raje, four proprietor/proprietress /partners of Aurangbad-based private firms and a panel valuer of the said bank have been named for allegedly causing an alleged loss of Rs 13.55 crore.

"It was alleged that then Assistant General Manager, Bank of Maharashtra, Aurangabad Zone during the period 2012-13 had entered into criminal conspiracy with other accused and sanctioned credit facilities amounting to Rs 5 crore (approx) each to the borrowers under the Loan Against Property Scheme of the bank by taking on record false valuation reports of the mortgaged property wherein their values were highly inflated by the panel valuers," CBI spokesperson said here today.

She alleged borrowers misutilised the funds and did not repay the loans.

Those named as accused in first case also include Saleem Ahmed Khan, Khan Rameez Raja and Shahana Parveen, Shaikh Jafar Shaikh Nizam, Inayat Jafar Ali Khan, Shaikh Irfan Shaikh Rahim Kasim, A Sayed A Nazir, Shaikh Moinuddin Shaikh Aminuddin, all businessmen in Aurangabad.

Aejaz Ahmed Khan, Shaikh Mohd Sabi, Mujahed Khan, Ajamutullah Khan, Fayaz Ahmed Khan, Qutubuddin Sayed Sabir, panel valuers, Milind Sangvikar, Sagar D Goge, have also been named in the first case.

Those named in second case along with Raje include Savita Murkute, Deepak Murkute, Shaikh Sadiq Ismail, Triambak Murkute and panel valuer Bank of Maharashtra, JS Chandak.

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