CBI Registers Two New Enquiries in Syndicate Bank Case: Report

In an offshoot of Syndicate Bank CMD bribery scandal, CBI has started two new enquiries into role of middleman Pawan Bansal in alleged easing of loan conditions and credit facilities for corporates from UCO Bank and Bank of Maharashtra.

CBI sources said the enquiries will look into alleged irregularities in the extension of credit facilities by UCO Bank and Bank of Maharashtra in the borrowers account facilitated by Pawan Bansal of Altius Finserve, an accused in the Syndicate Bank bribery scandal, and his associates.

The agency had arrested Mr Bansal earlier this month in bribery case related to chairman cum managing director of Syndicate Bank S K Jain who was arrested for allegedly taking Rs 50 lakh for not declaring bad loans as non-performing assets.

During the questioning of Mr Bansal, CBI got to know about his role in facilitating similar arrangements for corporates with other banks, they said.

CBI has alleged that in order to expedite results, one of the accused companies Prakash Industries had earlier agreed to pay huge sums of money to Mr Bansal for availing his services and it was agreed he would take care of further payments to Jain.

The agency has alleged that a major portion of the agreed upon money has already been provided to Mr Bansal by Prakash Industries through one of its employees.

In its FIR, CBI has alleged that accused Ved Prakash Aggarwal, chairman of Prakash Industries, and company director Vipul Aggarwal were in regular touch with Mr Bansal regarding the clearance of their proposal by Syndicate Bank, they said.

The agency has alleged that several rounds of personal meetings took place between Mr Bansal and Mr Jain in this regard and, in furtherance of the conspiracy, Mr Bansal contacted Jain on July 14, 2014, requesting him to expedite the proposal of Prakash Industries.