Bhubaneswar : The Central Bureau of Investigation has conducted searches at the official/residential premises of accused including then officials of Punjab National Bank & private persons at Visakhapatnam (Andhra Pradesh), Kolkata (West Bengal), Jammu (J&K), Bhubaneswar and Cuttack (both in Odisha) in a bank fraud case. During searches incriminating documents and locker keys have been found.
A case was registered U/s 120-B r/w 420 of IPC and Sec. 13 (2) r/w 13(1)(d) of PC Act on a complaint from Punjab National Bank against four officials of Punjab National Bank, Station Square Branch, Bhubaneswar i.e. the then Chief Manager; the then Assistant General Manager; the then Chief Manager; then Senior Manager and Bhubaneswar based private firm; its Managing Director, two Ex Directors & one Director, and unknown officials of Punjab National Bank & unknown others. It was alleged that the said PNB officials had entered into a conspiracy with the Bhubaneswar based private firm through its said Director(s) in the matter relating to fraud perpetrated in processing, sanctioning and disbursing CC facility, bill discounting and issuing Letters of Credit to said Bhubaneswar based private firm during 2010-15. It was further alleged that the said private firm had illegally diverted the funds received from the bank to its sister/ group companies and misutilised the same beyond the scope of funds sanctioned/ disbursed. It was also alleged that the bank officials did not verify the genuineness of the business activities of said private company/firm. An alleged loss to the tune of Rs. 31.92 crore (approx.) was caused to Punjab National Bank.
Investigation is continuing.