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| CBI presents challan against former Chief Manager SBI | | | Early Times Report
Jammu, Aug 31: CBI/ACB today presented challan in a case of cheating with the State Bank of India to the tune of Rs 3, 30, 43, 720/- against LA Kachroo former Chief Manager State Bank of India Jammu presently under suspension, Dr Kulbushan Nahar, Maha Raj Krishan Bakshi retired as Deputy Drug Controller, Ravinder Singh employee of Dr Kulbushan Nahar, Chaman Lal Nahar aged 86 years father of Dr. Kulbushan Nahar and Atin Tikka u/s 120-B, r/w section 420 RPC and Sections 5(2) 5(1) (d) J&K PC Act 2006 whereas Maha Raj Krishan Bakshi who was not present. The court of Special Judge Anticorruption Jammu AK Koul issued bailable warrants for securing his presence in the Court.
In the 114 pages Challan presented by Senior Public Prosecuting Officer SK Bhat with Investigating Officer Mr. Ashok Kalra for CBI, it has been mentioned that the case was registered on the complaint of General Manager (network-II) SBI Local Head Office Chandigarh on August 14, 2009 with the allegation that Dr. Kulbushan Nahar in connivance with LA Kachroo then Chief Manager SBI, Satwari, opened current accounts in the name of 15 non-existent firms on the strength of fictitious documents, further clean over drafts worth crores of rupees were granted by LA Kachroo then Chief Manager SBI Satwari beyond his financial powers to the said firms in violation of KYC norms of RBI due to which the bank has suffered a loss of rupees 3.35 crores. During the investigation it has been revealed that Dr Kulbushan Nahar had following CC Accounts maintained at SBI Jammu Cantt Brach in which he had availed total limits to the extent of Rs 359.39 lacs which were secured by properties mortgaged with Bank to the tune of Rs 324.04 lacs but he failed to pay the advance and the accounts become NPA. It is further revealed in the investigation that LA Kachroo was posted as Chief Manager SBI Jammu Cantt Brach from April 27, 2007 to June 8, 2009. On his resuming the duty as Chief Manager, he colluded with Dr. Kulbushan Nahar Prop M/S Wintoss remedies a concern dealing in manufacturing of Aurvedic Drugs and allowed opening of the accounts in the name of relatives as well as employees of Dr. Kulbushan Nahar despite the fact that Dr Kulbushan Nahar had availed full limit in the CC Accounts, which were not fully secured and were running irregular.
In the challan it was further revealed that when the glaring actions on the part of LA Kachroo came the notice of the authorities, the Bank authorities negotiated with Dr Kulbushan Nahar and took securities to tune of Rs 93 lacs which is far less from the outstanding, the detail of mortgage properties as under that equitable mortgage of triple storey building of Mr. Chaman Lal Nahar father of Dr. Kulbushan Nahar at Shalimar Road Jammu value of 93 lacs in addition to extension of charge by way of equitable mortgage over properties of three associate concerned M/S Wintoss Remedies, M/S Leo Pharmaceuticals and M/S The Hindustan Laboratories, the market value of which had been found to be less than the outstanding against these limits. In this manner, Dr. Kulbushan Nahar in conspiracy with LA Kachroo, Attin Tikka, MK Bakshi, Ravinder Singh and Chaman Lal Nahar cheated the bank to the tune of Rs 3, 30, 43, 720/-.
Special Judge Anticorruption Jammu directed all the accused except MK Bakshi to furnish bail bond to the tune of Rs 10,000 each and personal bond to the like amount. JNF
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