Excelsior Correspondent
JAMMU, Sept 21: Expressing dis-satisfaction over the investigation carried out by the premier investigating agency of the country in the multi-crore bank fraud case, Special Judge CBI Vinod Chatterji Koul today returned the challan to CBI for further investigation.
According to the challan, T R Dogra, the then Branch Manager (presently Senior Manager Bank of Baroda, Gandhi Nagar Branch) in criminal conspiracy with Yash Raj Singh, Proprietor M/s Modern Agro Tech and some unknown persons illegally got processed and disbursed a loan more than Rs 2 crore.
In the month of November 2006, Yash Raj Singh applied to secure credit facilities in the nature of working capital limit to the tune of Rs 7.77 lakh and term loan facilities for building and machinery to the tune of Rs 222.39 lakh in order to set-up Mushroom Plant. T R Dogra, who was required to get economic viability and technical feasibility of the project checked, didn’t conduct any pre-sanction inspection.
On the basis of his recommendation, Regional Office Bank of Baroda Chandigarh sanctioned loan of Rs 9.60 lakh as working capital limit and Rs 213.14 lakh as term loan to Yash Raj Singh vide sanction order dated December 30, 2006.
During the investigation, it came to the fore that an amount of Rs 98 lakh was diverted from M/s Modern Agro Tech to M/s Rightways Industries, another proprietorship firm of Yash Raj Singh. The verification of end use of fund was not conducted because of the connivance among the accused and funds were diverted or siphoned off as a result of which account turned into NPA with a total outstanding of Rs 242.16 lakh as on June 30, 2010.
After hearing S K Kantiwal, Senior PP for the CBI, Special Judge CBI observed, “this investigation was directed to be conducted through a responsible officer of CBI, not below the rank of DySP under the supervision of SP, CBI/ACB, Jammu. It appears that the investigation has been supervised by Bhori Singh, DySP, which is in violation of the order passed by this court”.
“The HOB, CBI/ACB Jammu is directed to explain his position regarding the violation of the court order. The points/lacunae formulated hereafter are directed to be probed through an officer not below the rank of DySP and report be submitted to this court”, the court said.
Accordingly, the court returned the challan to CBI/ACB, Jammu for further investigation. “The responsibility shall be fixed on the erring investigating officer and final report be submitted in this court within one month from today failing which the I/O as well supervisory officer shall explain the reasons”, the court said.
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