Syndicate Bank CMD, 5 others held for graft-Statesman
NEW DELHI/BHOPAL, 2 AUG: The CBI today arrested six persons, including the Chairman-cum-Managing Director of Syndicate Bank S K Jain (in file photo), for allegedly taking a bribe of Rs 50 lakh for increasing the credit limit of some companies in violation of banking rules.
After keeping a watch on the activities of Jain for the past six months on the orders of CBI Director Ranjit Sinha, sleuths finally swooped in on his relative and a Madhya Pradesh-based chartered accountant and arrested them while they were allegedly receiving cash from representatives of firms which have been involved in the coal scam.
The CBI has filed two cases against Jain, accusing him of receiving a bribe of Rs 50 lakh through conduits and abusing his official position to enhance the credit limits of some companies in violation of laid down procedures, official sources said.
Mr Sinha, who has been at the forefront of fighting corruption at high places, has been personally monitoring the case and the searches that were being conducted by CBI sleuths since morning at 20 places in Delhi, Mumbai, Bangalore and Bhopal.
“We are determined to fight corruption at high levels and today's case was one such example,” Mr Sinha said. In this case, the CBI alleged that the conduit was the brother-in-law of the CMD and the deal was struck by the chartered accountant who has started his own firm of providing loans to big corporate houses. The CBI claimed to have recovered cash to the tune of Rs 21 lakh from Jain's residence, besides gold worth Rs 1.68 crore and fixed deposits up to Rs 63 lakh. In the two FIRs, the CBI has named Neeraj Singal, Vice President and MD of Bhushan Steel, Ved Prakash Agarwal, CMD of Prakash Industries, Pawan Bansal, chartered accountant, Vineet and Puneet Godha (relatives of Mr Jain), Vijay Pahuja, Purushotam Totlani and Pankaj Bansal. Sources alleged that Bhushan Steel used the services of Totlani and the money was handed over to Vineet.
CBI sleuths arrested red-handed brothers and businessmen Vineet Godha and Puneet Godha and their business partner Vijay Pahuja from the Vardhman Complex in Bhopal yesterday evening for accepting a bribe of Rs 50 lakh on behalf of Jain. Jain was arrested in Bangalore today for allegedly taking a Rs 50 lakh bribe for irregular enhancement of credit limit of certain companies. There was no immediate word on the other two of the six arrested in the case.
Besides being a businessman, Vineet Godha is also known to be a Congress leader.
The Bhopal CBI SP Mr Hari Singh Guruwaria said that the Godha brothers were arrested from the Vardhman Complex at Bhopal’s Malviya Nagar, which houses their construction company Vardhman .
“A trap was laid on a tip-off and both the Godha brothers were arrested red-handed and the sum of Rs 50 lakh was also seized,” Mr Guruwaria said. He said the arrested persons would be taken to Delhi for further interrogation.
The CBI today produced the three persons arrested in Bhopal before the special additional sessions judge B B Shukla to seecure transit remand for them to be taken to Delhi.
The court granted the CBI their transit remand till 4 August with the direction to produce them before a court in Delhi.
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