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  • After Sisodia its Jain under CBI’s lens

    Poonam Jain

    New Delhi: 3 days after a team from Central Bureau of Investigation questioned deputy chief minister Manish Sisodia's at his residence in relation with a programme related to, 'Talk 2 AK', Satyendar Jain’s turn on Monday. The CBI on Monday questioned PWD minister’s wife, Poonam Jain, in connection with a case of alleged money laundering against him.

  • CBI files case against Lalu Yadav, others in IRCTC irregularities case

    Lalu

    New Delhi: The Central Bureau of Investigation (CBI) has registered a case against Rashtriya Janata Dal national president Lalu Prasad Yadav. On Friday, the CBI raided Lalu's 12 bases. According to the information, the case of disturbances in the hotel allocation has come out on Lalu, who was Railway Minister in the year 2006 in the UPA government. Under this, the CBI has registered a case against Lalu, his wife Rabri and his son.

  • Mallya, Lalit Modi fraud case: CBI denied sharing expense details

    Vijay Mallya

    Photo Courtesy: Internet

    While claiming immunity from disclosures under the RTI Act, CBI has refused to share details of expenses incurred to bring back to India fugitive businessmen Lalit Modi and Vijay Mallya.

    Pune-based activist Vihar Dhurve had approached the agency asked for the details of expenses incurred by the government to bring back Mallya, wanted in India on charges of Rs 9,000-crore fraud and Modi, who is facing a money laundering probe.

    Both Modi and Mallya have denied allegations of their wrongdoings.

    Mallya had fled the country in March, 2016 after the CBI diluted its lookout circular against him.

    After which the agency has sent its team manya times to London for the embattled liquor tycoon.

    The RTI application was forwarded to the CBI by the Finance Ministry. The agency transferred it to the Special Investigation Team (SIT) looking after these cases.

    In its response to the RTI plea, the CBI said it is exempt from making any disclosures under the RTI Act through a government notification of 2011.

    According to Section 24 of the RTI Act, a few organisations are exempt under the transparency law.

    However, the Delhi High Court had earlier underlined that organisations listed under Section 24 cannot claim exemption from disclosure if the information pertains to "allegations of corruption."

    (With agency inputs)

  • PNBs fraud shocks business sectors

    Mumbai PNB

    Photo Courtesy: Internet

    The Country’s second-biggest public sector bank, Punjab National Bank (PNB) on Wednesday opened many eyes with the disclosure that it has detected some "fraudulent and unauthorised" transactions worth a staggering about Rs 11,300 crore in one branch of Mumbai.

    It was noticed that the value of the fraudulent transactions works out to more than 8 times PNB's annual net profit of Rs 1,324 crore during 2016-17.

    The bank said in a regulatory filing with the BSE that the transactions were "for the benefit of a few select account holders with their apparent connivance" and that “based on these transactions other banks appear to have advanced money to these customers abroad.”

    PNB did not name the people involved but said it had reported the deals to law enforcement agencies and would evaluate later whether it faces any liability arising out of the transactions. 

    The matter has been referred to law enforcement agencies to examine the case and book the culprits, the bank statement added. "These transactions are contingent in nature and liability arising out of these on the bank shall be decided based on the law and genuineness of underlying transactions," PNB said, without giving further details.

    However, sources disclose that PNB has lodged a complaint with the CBI against billionaire jeweller Nirav Modi and a jewellery company over fraudulent transactions worth Rs 11,300 crore. The premier investigating agency is reported to have received the complaints about the transactions detected by the public sector bank late on Tuesday night. Modi is already being investigated by the CBI on a complaint from the Punjab National Bank filed last week over a $44 million (Rs 283 crore) fraud.

    This is the second incident of fraud in less than 10 days involving the same person being reported to the CBI. Nirav Modi figured in Forbes India's Richest People List 2016, with a net worth of $1.74 billion. Jolted into action by the Rs 11,300 crore fraud at PNB, the finance ministry has set a oneweek deadline for all banks to send reports involving this case or other such incidents latest. Since more than one lender is involved, all banks have been asked by the finance ministry's department of financial services to submit a status report soon on the fraud, a senior official confirmed. He said the ``letter of undertaking'' was issued fraudulently by PNB to billionaire diamond merchant Nirav Modi and associates and was encashed overseas by them from different banks, both in the private as well as public sector. Union Bank of India, Allahabad Bank and Axis Bank are reported to have offered credit based on letters of undertaking (LOUs) issued by PNB.

    An LOU is in effect a letter of comfort issued by one bank to branches of other banks, based on which foreign branches offer credit to buyers. Foreign branches of these banks which have dealings with outlets of a jewellery company are understood to have taken significant exposures. All this was being carried out in connivance with PNB officials including a deputy general manager since 2011, sources added.

    PNB has suspended 10 employees in connection with the fraud. The finance ministry has also asked, through the reform agenda circulated to the banks on January 24, that dubious accounts should be scrutinised and appropriate action against fraudsters be taken with zero tolerance. Banks should not dither from taking action against their own employees in case of collusion if there is sufficient ground, the directions added.

    (With agency inputs)

  • Pradyuman murder case: 5,000 page chargesheet filed against class XI student

    Gurgoan Murder

    Photo Courtesy: Internet

    A chargesheet of 5000 pages has been filed by Central Bureau of Investigation (CBI) in the murder case of an 8-year-old Pradyuman, from same Ryan international school. The murder case will be heard by A Gurugram Sessions court.

    CBI charged the juvenile offender in connection with the murder of Pradyuman Thakur, a class II student. Agency told that a separate investigation of the murder case is still underway.

    The sessions court had earlier too taken a tough stance against the accused teenager. On 8 January, the court had rejected the bail plea of the 16-year-old student, declined the bail plea of the accused and imposed a cost of Rs 21,000 for "wasting court's time" in baseless litigation and directed the father of the accused to deposit the amount.

    The court said the accused's ulterior motive in filing the present application was aimed to divert the track of the ongoing investigation or delay the probe and then "grab" the default bail.

    The 16-year-old is being tried as an adult in the case after the Juvenile Justice Board held on 20 December that the teenager was mature enough to recognise the consequences of his actions.

    If convicted, the accused will stay in a correctional home till he is 21 years old after which the court can shift him to a jail or grant him bail, it had said.

    The court had set up a committee which included a psychologist from the PGI, Rohtak, for an expert opinion on the accused who was taken into custody by the CBI in November 2017.

    Pradyuman was found dead with his throat slit in the school's washroom on 8 September. Initially, bus conductor Ashok Kumar was arrested by the Haryana Police in connection with the crime.

    Later, a Class XI student, who allegedly wanted a parent-teacher meeting and an examination at the school postponed was apprehended by the CBI in connection with the killing of the seven-year-old boy.

    Kumar was granted bail by a Gurugram civil court in November.

    (With agencies inputs)