CBI registers case against 2 bank officials

CBI registers case against 2 bank officials

The CBI has registered a case against two officials of Union Bank of India and three proprietor/director of private firms and others for alleged violation of Reserve Bank of India (RBI) guidelines.

 According to sources, the persons against whom the case has been filed include Ashok Kumar Dhabhai, DGM, Regional Office, Union Bank of India, Mumbai; K Shivashankarrao, AGM/Branch Manager, Union Bank of India, Zaveri Bazar Branch, Mumbai; Rakesh Patel, proprietor of Pihu Gold, Mumbai; Mayur Deepak Chawla, proprietor of Satnam Jewellers, Mumbai; Amit Sampat, director, Pushpak Bullion, Mumbai and Pushpak Bullion , Jewel World, Kalbadevi Road, Zaveri Bazar, Mumbai.  It was alleged that during November 15, 2016 to December 26, 2016, huge cash amounting to Rs 47.45 crore (approx) and Rs 37.15 crore (approx) were fraudulently shown as deposited in the accounts of two private firms based at Mumbai with Union Bank of India, Zaveri Bazar Branch, Mumbai respectively by fabricating records. The said amounts were further shown as transferred to another private firm based at Jewel World, Kalbadevi Road, Zaveri Bazar, Mumbai which a NPA account, also maintained in said branch of Bank, CBI said.

 It was further alleged that cash of Rs 47.45 crore (approx) and Rs 37.15 crore (approx) were directly deposited into the currency chest of Union Bank of India in old demonetised currency notes in the guise of outright purchase (cash purchase) of gold from Standard Chartered Bank /other authorised bank by said another private firm based at Jewel World, Kalbadevi Road, Zaveri Bazar, Mumbai. The huge cash was deposited in the currency chest of bank purportedly by representative of the said firms in an alleged conspiracy with DGM and AGM. Thus, the accused persons violated the RBI guidelines issued on November 8, 2016, CBI said.

 Searches were conducted at 12 places including residential and office premises of accused persons which led to recovery of Incriminating documents, CBI said, adding that further investigation is in process.

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