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CBI recovers Rs 18 Lakh in case of Bribery allegedly taken by a Private Bank Officer

CBI recovers Rs 18 Lakh in case of Bribery allegedly taken by a Private Bank Officer
New Delhi Feb 19,2021: The Central Bureau of Investigation has conducted searches in Chennai at the premises of an officer of Standard Chartered Bank, Chennai and recovered a cash of Rs. 18 lakh (approx.), property documents & locker keys etc. in a case related to bribery of Rs. Three lakh. CBI has arrested the accused while demanding & accepting the bribe of Rs.3,00,000/- from the complainant.

A case was registered against an Authorized Officer, Standard Chartered Bank, Group Special Assets Management, Rajaji Salai, Chennai on the allegations of demanding undue advantage of Rs.3,00,000/-, from the complainant (representative of borrower firm) to help & support for favourable settlement on OTS and win the case pending in Debts Recovery Tribunal (DRT) in the matter of immovable properties offered as collateral securities in the loan availed from Standard Chartered Bank. It was further alleged that the complainant’s firm had availed OD/Term Loan facilities from Standard Chartered Bank, D B Branch, Coimbatore for a total amount of Rs.27,70,00,000/- (approx.) during the period from 2005 to 2016 with sufficient collateral. The bank accounts became NPA with an outstanding of Rs. 26,37,12,444/- (approx.) as on 30.04.2017. It was also alleged that the Standard Chartered Bank initiated action Under SARFAESI Act, 2002, and the accused was the Authorized Officer to dispose of the immovable properties of the borrowers which were mortgaged as collateral. The properties were allegedly sold by auction for a total amount of Rs. 22,11,00, 000/- (approx.) in January 2021 against market value of Rs. 61.5 crore (approx.) as claimed by the borrower. Aggrieved by the sale, the borrower filed a case before the Debts Recovery Tribunal court, Coimbatore during February, 2021 and got stay order against the sale. Since the matter was pending before the DRT, the accused demanded undue advantage of Rs.3,00,000/-, from the complainant to help and support the borrower.

CBI laid a trap and caught the accused red handed while accepting the bribe of Rs. 3 lakh from the complainant.

The accused was arrested & produced before the court of Principal Special Judge for CBI Cases, Chennai and was remanded to judicial custody till 03.03.2021.

Name of the accused:-

Rajendran, Authorized Officer, Standard Chartered Bank, Group Special Assets Management, Rajaji Salai, Chennai

Investigation is continuing.

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