9911796707
TMI Blog2014 (9) TMI 1295X X X X Extracts X X X X X X X X Extracts X X X X ..... aud. Instances of frauds, such as unauthorized credit facilities extended by the bank for illegal gratification, negligence and cash shortages, cheating, forgery etc. must be properly investigated. In dealing with the cases of fraud / embezzlement, banks should not merely be actuated by the necessity of recovering expeditiously the amount involved, but should also be motivated by public interest. In the instant case, the allegation is that the amount to the tune of Rs. 34 crores was siphoned off fraudulently. Such perpetrators of fraud, including Bank Officers, should not be permitted to take everybody for a ride. The investigation pertaining to FIR no. 389 of 2012, lodged at police station, Kotwali, Dehradun is, therefore, handed over to ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... issue appropriate instructions to the clearing house for collecting records pertaining to clearing schedule, instruments presented for Inward / Outward clearing from the Dehradun Branch of the petitioner from 01.12.2007 till 30.06.2012; freezing the accounts of the accused persons, co-accused and their associates in the bank and for attaching the movable and immovable property of the accused, co-accused and their associates so that the amount misappropriated by them are made good and for attaching all the properties acquired out of the proceeds of fraud, including those reflected in Annexure P28. 2) By way of amendment, the petitioner seeks to transfer the investigation to CBI or any other impartial investigating agency. 3) Brief facts of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ocha and Vijay Kushwaha and their family members and associates pending investigation. 5) Earlier, an application was addressed to the Dy. Inspector General of Police, Dehradun on 1st August 2012 regarding some suspicious loan transactions against security of fixed deposits in the name of Anil Mittal and others. The preliminary investigation conducted by the bank in respect of suspicious loan transactions against the security of fixed deposits revealed that the loans were raised against the security of fixed deposits by preparing fake deposit receipt in addition to the genuine deposit receipt and placing the fake deposit receipts with loan documents so as to make it appear that loans were secured by deposits. The loan documents were also f ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... el for the parties drew the attention of this Court towards order dated 30.08.2013, passed by the Court earlier. It will be useful to reproduce the aforesaid order here-in-below for the sake of convenience: "Huge amount of money, worth in crores, of South Indian Bank, Branch Dehradun, was siphoned off, embezzled by manufacturing and fabricating the bank record. Petitioners of WPCRL Nos. 15 of 2013 and 21 of 2013 stated before me that although, they had not applied for loan formally but they received the amount, as loan in their accounts. On the other hand, learned Senior Advocate appearing for the Bank submitted that petitioners of WPCRL Nos. 15 of 2013 and 21 of 2013 with the collusion of some Bank officers posted at the relevant time ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... to the proposal of handing over the investigation to it. 8) All issues arising out of lapses in the functioning of the private sector banks relating to corruption, malpractices, frauds should be property investigated. Timely and appropriate action should be taken in the cases involving fraud. Instances of frauds, such as unauthorized credit facilities extended by the bank for illegal gratification, negligence and cash shortages, cheating, forgery etc. must be properly investigated. In dealing with the cases of fraud / embezzlement, banks should not merely be actuated by the necessity of recovering expeditiously the amount involved, but should also be motivated by public interest. In the instant case, the allegation is that the amount to t ..... X X X X Extracts X X X X X X X X Extracts X X X X
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