CBI books DUSIB, Bank of Baroda officials for diverting funds over Rs 200 crore

New Delhi: The Central Bureau of Investigation has registered a case against officials of Delhi Urban Shelter Improvement Board (DUSIB) and Bank of Baroda, Paharganj Branch, and other unknown persons on the allegations of misappropriating funds amounting to over Rs 200 crore.

The Delhi Urban Shelter Improvement Board (DUSIB), under the government of NCT of Delhi, has allegedly invested its surplus funds in the form of FDRs in different banks and diverted the same into suspected fake account/FDRs.

It was alleged that during the year 2020-2021, DUSIB has transferred money from four different accounts of the organisation maintained in Central Bank of India, Vikas Kutir to Bank of Baroda, Paharganj branch for the purpose of investing in FDRs.

The unknown officials of DUSIB in conspiracy with the officials of Bank of Baroda diverted the said funds to the tune of Rs 207.99 crore.

It was further alleged that instead of issuing genuine FDRs, the said money was diverted to an account in the name of a private firm. It was also alleged that the money was transferred to one fake account in the name of DUSIB in Bank of Baroda.

The money transferred to the Bank of Baroda for the purpose of making FDRs was diverted through the fake account of DUSIB. The documents provided to DUSIB were allegedly fake FDRs printed on normal paper.

In total, 112 documents (FDRs) to the tune of Rs 214 Crore were given by the Bank to DUSIB. It was further alleged that out of these, only three FDRs amounting to over Rs 6 croe were found to be genuine, the rest of the FDRs were suspected to be forged.

CBI conducted searches at the office of DUSIB, Bank of Baroda and the residence of a Bank Manager. During searches, documents related to the forged/fake FDRs were recovered from the premises of the bank manager.