CBI books bank officials for criminal conspiracy

CBI books bank officials for criminal conspiracy

The accused include former chief manager S.M. Mahajan, former deputy general manager N.K. Mehta, senior manager R.K. Chaba, Dhiraj Singh, owner of Himachal Pradesh-based DS Industries and his wife Mamta Choudhary, the owner of Asia Himalaya Overseas, CBI officials said.

The CBI has so far arrested Mahajan and Dhiraj Singh.

"The bank officials had hatched this conspiracy during 2005-09. As public servants, they misappropriated public with the connivance of Dhiraj Singh and his wife," a CBI official said here Sunday.

"They have caused a loss of nearly Rs.3.95 crore to the bank by granting loans to dead or fake companies that were floated by the accused couple," he added.

"Mahajan, the then chief manager, ignoring the fact that account of Asia Himalaya Overseas had already became irregular, sanctioned Rs.218 lakh as cash credit and Rs.177 lakh as term loan in the name of DS Industries against the properties already mortgaged to the bank," he added.

CBI officials said Mahajan also ignored the fact that the accused borrowers were in the caution list of the Reserve Bank of India (RBI).

Sources in the CBI said Mahajan is the husband of a Himachal Civil Services (HCS) officer who is currently posted at Shimla.

CBI zonal director Mahesh Aggarwal told IANS: "We have conducted searches at the residential premises of Mahajan and Dhiraj Singh at Panchkula, Delhi and Shimla. We have seized various documents related to this case."