The CBI has booked senior officials of state-owned Union Bank of India and others for allegedly allowing cash deposits of about Rs 85 crore in violation of RBI norms after government demonetised the high-value notes last November.
The investigation agency has registered cases under IPC sections pertaining to criminal conspiracy, cheating forgery and corruption. The FIR has been registered against the then deputy general manager (DGM) Ashok Kumar Dhabhai, and the assistant general manager K Shivashankarrao of the public sector bank.
The action follows after it was alleged that huge cash amounting to Rs 47.45 crore and Rs 37.15 crore were fraudulently shown as deposited in the accounts of two private firms based at Mumbai with Zaveri Bazar branch of Union Bank of India by fabricating records. The said amounts were further transferred to another firm Pushpak Bullion, whose account was also maintained in the Zaveri Road branch of the bank.
Three jewellers Rakesh Patel of Pihu Gold, Mayur Deepak Chawla of Satnam Jewellers and Amit Sampat, director of Pushpak Bullion — all based in Mumbai —have also been named in the FIR along with the company Pushpak Bullion.
“The huge cash was deposited in the currency chest of bank in old demonetised currency notes purportedly by representative of the said firms in an alleged conspiracy with DGM and AGM. Thus, the accused persons violated the RBI Guidelines issued on 8 November 2016,” CBI spokesperson RK Gaur said in a statement.
He said searches were conducted at 12 places including residential and office premises of accused persons which led to recovery of incriminating documents.
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The huge cash was deposited in the currency chest of bank purportedly by representative of the said firms in an alleged conspiracy with DGM and AGM. Thus, the accused persons violated the RBI guidelines issued on 8 November 2016,” the statement said.