The CBI today picked up a suspended assistant general manager of Bank of India for questioning in Mumbai in connection with the Rs 137 crore pay order scam in which prominent share broker Ketan Parekh was arrested.
Highly-placed agency sources said here the official identified as B H Somaiah was picked up for questioning by sleuths of bank securities and fraud cell.
Somaiah was being questioned at the local CBI headquarters and a decision of arrest was likely to be taken only after his grilling, the sources said.
The BS and FC had been given a go ahead signal by the senior officials here to arrest Somaiah, who is among the two senior officials of Bank of India's Stock Exchange branch suspended in connection with the pay order scam.
It was in this branch the pay orders presented by the companies allegedly belonging to Ketan Parekh were discounted. Meanwhile, CBI has launched a massive manhunt to nab the absconding chairman and managing director of Madhavpura mercantile co-operative bank whom the agency is looking for in connection with the scam.
Bureau Report