The Central Bureau of Investigation has registered a case on a complaint from State Bank of India, Chandigarh u/s 120-B r/w 420, 467, 468, 471of IPC and Sec. 13(2) r/w 13(1)(c) & (d) of Prevention of Corruption Act, 1988 against three Promoter/Director of Chandigarh based private company; three ex-Directors ofsaid company; two employees of said company; the said private company & others and also other unknown public servants & private persons for causing an alleged loss of Rs.33.79 crore(approx) to Bank.
It was alleged in the complaint that the accused persons in connivance / criminal conspiracy with the branch officials had siphoned off the bank funds by misrepresentation, fabrication / forgery of documents & falsification of financial records. An alleged loss of Rs. 33.79 crore(approx) was caused to the Bank.
Searches are being conducted today at eight locations in Delhi, Chandigarh and Cuddalore (Tamil Nadu) at the premises of accused persons & others which led to recovery of incriminating documents.
Further investigation is continuing.