The Central Bureau of Investigation (CBI) on January 18 conducted searches at 32 places across Pune, Lonavala and Baramati. These places included 17 branches of a Pune-based Muslim cooperative bank. Not only the branches, but also the residence of Haroon Sattar Sayed, CEO, Cooperative Bank was also covered. It was alleged that the bank showcased irregularities in exchanging demonetised Rs 500 and Rs 1000 notes worth Rs 40 lakh.
“Incriminating documents recovered during searches are being scrutinised. CBI registered a case under Sections 120-B, 420,471,477- A of IPC and Sections 13(2) r/w 13(1)(d) of PC Act 1988 against nine officers/ officials of a Co-operative Bank Ltd., Pune and others. Investigation is in progress,” read a press release issued by the central investigation agency.
According to the Indian Express, a source in the CBI said, “We have conducted searches in the past as well.., a case was registered after we had primary evidence and all the related documents.”
As per Pune Mirror, PA Inamdar, chairman, Cooperative Bank said that the CBI team had come to the bank for inquiries. He added that the bank management submitted all the documents that were demanded by the central agency.
In the context of SM Iqbal and Imtiaz Shikilkar, bank directors, Inamdar said that the allegations being levelled against the bank were completely baseless and frivolous.
per which he is required to inform the Central Bureau of Investigation and the Enforcement Directorate prior to leaving the country. He has appealed to the Madras High Court to withdraw the circular and his plea will be taken up by the court on 7th August.
A business man as well as a Congress leader, Karti, is being probed for corruption and foreign exchange violation in the INX Media case. The company, which was at the time run by Peter Mukerjea and his wife Indrani Mukerjea, had raised around Rs 350 Crores while it had a license for foreign investment worth Rs 4.62 only. The CBI has alleged that Karti Chidambaram had used his father’s influence in the finance ministry to get the approvals. It further claimed that he has received payments amounting to Rs 3.5 Crores in exchange for facilitating the breaking of foreign investment laws.
As reported by NDTV, P. Chidambaram, as well as Karti, has denied all these allegations and said that they were politically motivated.
The Reserve Bank of India (RBI) imposed a fine of Rs 5 Crore on Bank of Baroda for involvement in the Foreign Exchange Scam detected last year. HDFC Bank too faced a similar penalty of Rs 2 Crore for not following the anti-money laundry (AML) norms.
In October 2015, the Central Bureau of Investigation scrutinised various bank. The Bank of Baroda’s Ashok Vihar branch in Delhi was charged for illegally transferring Rs 6,100 Crore. The bank employees transferred funds to 59 Hong Kong companies registered with wrong address. The investigators suspect that the amount was transferred as payment for unprecedented imports.
The RBI noticed various irregularities in Bank of Baroda like non-submissions or delays in filling Suspicious Transaction Reports and opening of accounts without following the Know Your Customer (KYC) norms. HDFC Bank lapsed in adhering to the KYC and AML norms.
According to a TOI report, “HDFC Bank has implemented a comprehensive corrective action plan” to ensure that the norms are followed. Even Bank of Baroda has implemented measures to strengthen the bank’s internal control.
Shares of both HDFC Bank and Bank of Baroda closed at Rs 1,246.55 apiece and 3.21 per cent up at Rs 155.75 apiece on Bombay Stock Exchange.
New Delhi: The Supreme Court on Monday upheld the conviction of former Haryana Chief Minister Om Prakash Chautala, his son Ajay Chautala and 53 others involved in the JBT (Junior Based Training) teachers’ recruitment scam. The trial court convicted the five-time CM and his son, sentencing them to 10 years in jail in January 2013. The Delhi High Court upheld this verdict in March 2015 saying, “The overwhelming evidence showed the shocking and spine-chilling state of affairs in the country.”
Justices FMI Kalifulla and Shiva Kirti constituted the bench that upheld the conviction of Chautala, son of former deputy Prime Minister CM Devi Lal. The Bench said that the High Court had passed a “reasoned order” and there was no “error in judgment”, dismissing the appeal of the convicts.
The ex-CM and his son were involved in the illegal appointment of teachers to state run schools. The duo was charged with bribery in exchange of recruitment of teachers. The Central Bureau of Investigation found that in 2000, around 3,206 junior teachers were illegally appointed in Haryana. The four year investigation of the scam charged Chautala and his son for using forged documents for the recruitment of teachers.
The Bench permitted Chautala to move the HC for parole on health grounds. He still has eight years of his jail term left. The other 50 convicts were sentenced to two years of jail term by the HC.