New Delhi, Feb 24: Days after unearthing of multi-crore PNB scam, state-owned Bank of Maharashtra on Friday approached the Central Bureau of Investigation (CBI) over an alleged forgery of Rs 9.5 crore by a Delhi-based businessman. The bank, in its complaint, alleged that it was wrongfully induced to grant a loan of Rs 9.5 Crore to Ashirwad Chain Co-Proprietor Amit Singla. The borrower, in connivance with valuers, showed inflated prices of the collateral deposited against the loan. [Also read: Jaitley Slams Regulators For Failing to Detect Rs 11,400-Cr Scam]Also Read - Dhanbad Judge Death Case: CBI's Report to Jharkhand HC Claims 'Judge Uttam Anand was Intentionally Hit'
The bank alleged that it sanctioned cash credit of Rs. 350 lakhs on October 27,2010, which was enhanced to Rs.550 lakhs September 09, 2011, and further to Rs. 950.00 lakhs on August 22, 2012. Also Read - NEET UG 2021: CBI Unearths Major Scam, Says Students Asked to Pay Rs 50 Lakh For Admission to Govt Medical Colleges
The FIR alleged that the accused persons in criminal conspiracy, deceived it and dishonestly induced the bank for getting the loan on the false representation by forging documents and criminally misappropriated and used the said loan amount. [Also read: Look For Jobs Elsewhere, Don’t Want You to Suffer Due to Your Connection With me: Mehul Choksi to Employees] Also Read - Bengal Post-poll Violence: Calcutta HC Orders CBI Probe Into Murder, Rape Cases; SIT For Other Offences
Singla had put three properties as collateral which were valued at over Rs. 18 crore by Tech Mach International at the time of taking the loan, but the actual market value of the properties were found to be only Rs 2.5 crore after the loan turned into an NPA. [Also read: Set Up Special Agency to Monitor Loans Above Rs 250 Crore: Finance Ministry to Banks]
To this, the bank said the accused persons had submitted the inflated stock audit report and inflated balance sheet to avail the loan, adding that they diverted funds of the bank against the terms and conditions of the sanction, thus causing “wrongful loss to the bank and wrongful gain to themselves.”
An investigation into the matter was conducted by S.K. Saha, the assistant general manager of the bank, whereby a wide gap was found in the valuation of the properties collaterally secured with the bank at the time of sanction and enhancement with its present market value.
(With inputs from agencies)