action against Bank Officers of 17 banks for 7 years
... Now CBI has assured of action. (After Jana Lokpal
Total amount given
frauduently by 17 banks, to a single company of this
fraudster Rajkumar Basantani is Rs 130 crores.
This fraudster had atleast 20 companies, I have
details of only one company Soundcraft Industries
Ltd., most of the banks have given Crores WITHOUT ANY
At present I am pursuing the
matter with the CBI.
However CBI Officials are
dissuading me from filing a detailed complaint, as
they say "First to prosecute the fraudster and
Bank Officials we will need permission from Delhi,
which will NOT come easily, even if permission comes
the Judges will let them off and most important, we
are short staffed, we do not have staff to pursue such
cases of fraud of ONLY Rs 130 crores.... I K Chhugani
sanctioned Rs 11.5 crores against a 398 sq. ft. flat.
Mr Rajkumar Basantani
promoter of Soundcraft Industries Ltd., is an Ex SBI
employee, he got various Bank Managers, to give him
Rs 1000 Crores and then he fled from India on 4th
April 04...Surprisingly, he has so good relations
with the police, that he continues to communicate
with them, through his original cell no 98200 60781,
If any bank manager is in some trouble, he intervenes
and saves him..... He is a white collared
Before he fled from
India, he spent Rs 60 lakhs on renovation of the
Mumbai Police Gymkhana at Marine Lines. Sr police
officials regularly visited him at his residence. I
was staying in the same building on 2nd floor, he
stayed on the 7th floor. He also owned the 5th floor
I got loan from
Greater Bank of Rs 30 lacs against flat 201,202 at
Pinky Panorama, Khar. The fraudster received Rs 17.5
crores against flat 501,502 Pinky Panorama,
Khar, from 2 banks (PNB & BOBL) ... same
size flat, same building....This Greater bank tried
all means legal & illegal to throw me out of
the flat, when I defaulted for Rs 19 lacs only
(though morgaged property was worth Rs 80 lacs) ...
basically so that their officers could get a cut from
selling my flat ... at the same time even GB had
given Rs 5.7 cr to this fraudster, with almost nil
This is the
same man, who got me ( Indur chhugani
) arrested on a false charge,
because I bought property, he left behind....
he left behind Rs 5 Cr worth property only,
which the banks dutifully seized, and were
interested in selling to his proxy's at a
very low price.
While farmers commit suicide,
when they are unable to repay amounts as low
as Rs 25,000/-. the bank managers, loot
Crores through their friends .
In 2002/2003, this man
renovated the Police Gymkhana at Marine
Lines, spending Rs 60 lakhs
the managers looted the Banks that employed them:
National Bank Ltd.
against a flat of 398 sq ft. gave a loan of Rs
8 crores (sanctioned Rs 11.5 cr)
(the flat was not on the moon it was at Khar, 502,
to a company Soundcraft Industries Ltd., promoted by
Mr Rajkumar Basantani that has disappeared in
This flat was valued
at Rs 2.04 crores, area shown as 1700 sq. ft. when
they gave the loan in 2001. False valuation report
provided by Anmol Sekhri & Associates. (actual area
398 sq ft and Value Rs 26.9 lakhs)
Have they taken any
action against the managers, who cleared this
Have they filed any case against the valuer. NO..
interested in taking the Directors of PNB to
can get full details from me.
Economic Offences Wing
(EOW) of Mumbai Police is aware of all this,
but no action is initiated against bank officials or
Officials and EOW believe in Bhaichara)
The top management
must be making Crores of Rupees from these kind of
the amount illegally received must be invested
somewhere, in the form of properties, land or
jewellery... Let me know, in case you have any
information.... Email firstname.lastname@example.org
Indian Overseas Bank ,
Similiar is the story of Indian Overseas Bank
(fornerly Bharat Overseas Bank)
this bank has also given a loan of Rs 6 crores
against a flat of 641 sq.ft., 501, Pinky Panorama,
Flat value shown
as Rs 2.04 crores, in 2001. False valuation report
showing area as 1700 sq. ft. again provided by Anmol
Sekhri & Associates. (actual area 640 sq ft and
Value Rs 43.6 lakhs)
action taken against managers who sanctioned
Even the Sessions
court and Bombay HC are aware of the full fraud.
No action initiated
against valuer, who provided such a report.
EOW of Mumbai Police
is aware of this transaction too.
Again brotherly feelings prevail.
Greater Bombay Co-Operative Bank
This bank has advanced Rs 5.7 crores . Security they
have taken is shares worth Rs 25 lakhs .
Bank Of Baroda
This bank has advanced Rs 5 crores . With nil
Bank Of India
This bank has advanced 5 crores. Security they have
taken is a disputed tiny plot worth Rs 12 lakhs at
Karjat near Mumbai.
This bank has advanced Rs 15 crores. Security they
have taken is a Rs 1 crore leased property in New
This bank has advanced 27.5 crores. Security they
have taken is a Rs 2 crore office in new Mumbai.
This bank has advanced 15 crores. Security they have
taken is a disputed tiny plot at Andheri E.
Bank Of India, Syndicate Bank, Canara Bank,
Vijaya Bank, Punjab Sind Bank, Oriental Bank Of
Commerce, Small Industrial Devevelopment Bank
and atleast 30 other banks
have advanced sums between Rs 5 Crores and Rs 27.5
crores to this company, without any security.
I have details of 17 Banks
Offences Wing (EOW) of the Mumbai Police is aware of
all the bank names and names of managers, who gave
such loans, so is the RBI.
An RTI application made to Mumbai police, got me a
reply "Information forwarded to RBI... Contact
Surprisingly RBI has refused to give me info, in my
RTI enquiry "What action is taken against the
Bank Managers" ... Stating "Action taken is
confidential, info cannot be given".
Mumbai Police supposed to take action against all the
Bank Managers ? Or are they supposed to become their
friend ? So that some share can be received ... This
is called Bhaichara ?
PIL will be
filed shortly, to force Police / RBI to initiate