CBI files chargesheets against senior bank officials in bribes-for-loans case

MUMBAI: CBI has filed charge sheets in four cases registered by it last year against senior officials of a public sector bank and a private company for allegedly receiving kickbacks in sanctioning of loans.

Chargesheets have been filed against former LIC Housing finance CEO Ramchandra Nair, the then General Manager of Bank of India R N Tayal, the then Deputy General Manager of Punjab National Bank Venkoba Gujjal and Rajesh Sharma, Chairman and Managing Director of private financial services firm Money Matters.

The charge sheets also named two employees of Money Matters - Sanjay Sharma and Suresh Gattani - as accused.

According to CBI, the accused bank officials colluded with the private company to sanction large loans to housing firms, overriding mandatory conditions for such approvals. They were also gathering confidential business information from financial institutions.

According to the charge sheets, Nair took a bribe of Rs 16 lakh, Tayal of Rs 45 lakh and Gujjal of Rs 25 lakh.

All the accused have been booked on the charge of criminal conspiracy under section 120-B of IPC and various sections of Prevention of Corruption Act. CBI had earlier also filed a charge sheet against Maninder Singh Johar, Director of Central Bank of India in the same scam.

In the first charge sheet, CBI said the probe showed the then Secretary (Investment) LIC had received Rs 16 lakh as illegal gratification in three installments from the CMD of Mumbai-based private Financial Services Company.