Chargesheet against 23 for cheating bank to over Rs 4 cr
New Delhi: CBI has filed a chargesheet
against 23 people, including four government officials,
granting loans to non-existing companies through fake accounts
and causing losses of more than Rs four crore to a
The chargesheet filed against Chief Manager of a Canara
Bank branch here and three other officials besides other
persons in a special court sought their prosecution on the
charges of cheating, criminal conspiracy and other sections of
the IPC and various provisions of Prevention of Corruption
Taking the chargesheet into cognisance, the court
issued summons against the accused for October seven.
The probe against K N Aithal, the then Chief Manager
Canara Bank`s Chandni Chowk branch, and three other officials
was initiated on the complaint filed by the Deputy General
Manager(DGM) of Canara Bank Disciplinary Action Cell on
December 28, 2007.
Aithal, already retired from service, was accused of
sanctioning credit limits to six companies on the basis of
inflated valuation reports in respect of mortgaged properties
kept with bank as collateral for the loans.
The CBI alleged all the officials, who were later
suspended, in connivance with Ashok Jain, a middleman,
sanctioned loans to the tune of Rs 4.47 crore beyond the
overdrafting limits and in violation of all the norms and
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