The Central Bureau of Investigation has arrested five accused including two officials (now retired), each from Rail Land Development Authority (RLDA) & Bank of Baroda, Shahdra, Delhi and three private persons in an ongoing investigation of a case for causing an alleged loss of Rs. 31.50 crore (approx) to RLDA.
All the arrested accused were produced before the Competent Court and were remanded to Judicial Custody.
Name of the arrested accused persons:
Vivek Kumar, then, Manager, RLDA, Delhi.
Jaswant Rai, then, Branch Head, Bank of Baroda, Vishwas Nagar Branch, Shahdra, Delhi.
Gopal Thakur (private person), Delhi
Hitesh Karelia (private person), Mumbai.
Nilesh Bhatt (private persons), Mumbai.
A case was registered on complaint from Rail Land Development Authority (RLDA), a statutory body under Ministry of Railways (Govt. of India) against unknown public servants & unknown private persons on the allegations that RLDA had been put to a loss of Rs.31.50 Crore (approx) by unknown public servants & officials of Bank of Baroda, Vishwas Nagar Branch, New Delhi. It was alleged that RLDA had initially invested an amount of Rs. 35 Crore (approx) for one year in the form of Fixed Deposit (FD) at Bank of Baroda, Vishwas Nagar Branch, Shahdra, Delhi and thereafter the maturity proceeds were supposed to be re-invested, for a period of 03 months. However, the bank invested only Rs. 3.50 Crore in Fixed Deposit (FD) and remaining Rs. 31.50 Crores were diverted to different shell companies with the connivance of Bank officials, RLDA Officials and Private Persons. Only the maturity proceeds of Rs. 3.50 Crore were reinvested for three months. This resulted in loss to RLDA.
It was further alleged that the officials of Bank of Baroda, Vishwas Nagar Branch, Delhi in conspiracy with other private persons based in Mumbai, Delhi & other locations had defrauded RLDA to the tune of Rs. 31.50 Crore (approx) which was entrusted to the bank for the purpose of investment, however, the same was misappropriated using forged letters/ advisories purported to have been issued by RLDA officials. It was also alleged that the accused diverted the funds deposited with the Bank of Baroda in the accounts of various Mumbai based shell companies and thereafter the same was withdrawn and misappropriated. The alleged role of officials of Rail Land Development Authority (RLDA), Delhi has also emerged in this case.
Searches were earlier conducted at 12 different places including at Delhi, Mumbai, Goa & Himachal Pradesh.
Investigation is continuing.
