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| CBI files challan in cheating case | | | Early Times Report
Jammu, May 19 : CBI/ACB Jammu today presented challan against Tilak Raj Dogra former Senior Manager Bank of Baroda Gandhi Nagar Jammu presently Chief Manager Regional Office Bank of Baroda Jallandhar, Yash Raj Singh Prop M/S Modern Agro Tech, Khema Kumari w/o Yash Raj Singh, Surjeet Singh s/o Jaswant Singh of Nai-Basti Jammu, Janak Singh and Mohd Iqbal r/o Jogi Gate Jammu u/s 120-B r/w 419/420/467/478/471 RPC r/w section 5(1) (d) r/w 5(2) of J&K PC Act SVT 2006 in the Court Special Judge Anticorruption CBI.
According to challan, TR Dogra then Branch Manager presently Senior Manager Bank of Baroda Gandhi Nagar Branch Jammu in criminal conspiracy with Yash Raj Singh Prop M/S Modern Agro Tech and some unknown persons illegal got processed and disbursed a loan to the tune of more than 2 Crores in favour of M/S Modern Agro Tech by abusing his official position. It was further mentioned in the FIR in the month of November, 2006 Yash Raj Singh Prop Modern Agro Tech, Khanpur Block Marh Jammu applied to secure credit facilities in the nature of working capital limit to the tune of Rs 7.77 lacs and term loan facilities for building and machinery to the tune of Rs 222.39 lacs in order to set-up Mushroom Plant and in this regard submitted a written application to the Bank of Baroda Gandhi Nagar Jammu Branch where TR Dogra was the Branch Manager who required to got economic viability and technical feasibility of the project checked as he has the appraisal of the project. No proper pre-sanctioned inspection was conducted by TR Dogra or other branch officials. No comments were given on the valuation of the properties offered to be mortgaged. On the basis of his recommendation, Regional Office Bank of Baroda Chandigarh sanctioned loan of Rs 9.60 lacs as working capital limit and Rs 213.14 lacs as termed loan to Yash Raj Singh vide sanctioned order December 30, 2006. During the investigation It was further alleged that a total of Rs 98 lacs have been diverted from M/S Modern Agro Tech to M/S Rightways Industries, another proprietorship firm of Yash Raj Singh. The Verification of end use of fund has also not been done as required because of the connivance among the accused and funds were diverted or siphoned off resulting in the account turning into NPA with a total outstanding of Rs 242.16 lacs as June 30, 2010, thereby causing undue loss to the exchequer and undue benefit to Yash Raj Singh & Ors. After completion of investigation CBI today presented challan. --JNF |
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