All those having account with PNB need to consider ...
whether their funds are safe, what if the bank collapses.
CBI unearths another PNB bribe-for-loan scam
Mumbai Mirror Bureau mirrorfeedback@indiatimes.com
(Mumbai Mirror April 20, 2011 page 4)
After the multi-crore LIC Housing loan scam,the CBI has unearthed another bribe-for-loan racket involving the deputy general manager of Punjab National Bank (PNB),Venkoba Gujjal,and five companies,including Temptation Food Pvt Ltd run by Vinit Kumar.
Incidentally,Gujjal was earlier arrested by the CBI in the LIC Housing scam,while Kumar is still in Tihar jail in connection with the spying case involving IAS officer Ravi Inder Singh.
According to the agencys FIR,which was filed on April 11, Kumar took a loan of Rs 170 crore in 2009-10 by bribing Gujjal through a Mumbai-based intermediate finance company,Portfolio Finance Services Ltd.The total bribe amount paid in this case was Rs 50 lakh,of which Gujjal got Rs 20 lakh, said a CBI officer.
CBI sources said that there were four other companies which secured PNB loans running into several hundred crores through two intermediate finance firms: Portfolio and Imperial Finance Services Ltd.Directors of both the companies are on the run.They have been identified as Sunil Singla and Murli Singla (Portfolio) and Deepesh Seth (Imperial).
Gujjal has been arrested,while a production warrant for Kumars custody has been obtained.A CBI team is camping in Delhi to get Kumar to Mumbai.We are now looking for the absconding directors, another CBI officer said.
The agency has already raided and sealed offices and residences of all the people involved in the scam.
We will now scrutinise their documents and depositions and figure out how this scam was committed.We suspect rules were overlooked or bent to help these companies obtain loans.Most of them may not even be eligible for the massive loans they have secured, the officer said.
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PNB has 1000s of cases where 100's of crores
are given to fraudsters, which are unrecoverable
... Read more at
http://www.RoguePolice.com/pnb.htm
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Rogue Police of India ... Narayana Murthy of INFOSYS was also arrested
Citizens Policing the Police is a MUST ...Need of the day
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