The Central Bureau of Investigation (CBI) on Thursday raided several locations in Delhi-NCR, after it registered three separate cases against two directors from Lancer Healthcare Pvt Ltd and former senior officials from Corporation Bank, on the allegations of using forged documents to get loans from the bank leading to a total loss of Rs 27 crore.
The Agency raided ten locations in Delhi, Ghaziabad, Noida and Gurugram, and recovered important documents pertaining to the case.
A CBI official said that the agency searched offices and residence belonging to Rajkumar Karanwal and Manish Kumar Karanwal, directors of Lancer Healthcare Pvt Ltd.
Apart from former senior bank officials, the CBI had also booked Soloman Consulting Pvt Ltd, an advocate and several middlemen.
The case had come to light two years ago, when the deputy general manager of Corporation Bank Rathankara had submitted the complaint, after the vigilance division of the bank had investigated serious irregularities in a loan sanctioned to Manish Kumar, the proprietor of Manish Kumar and Co.
Along with the sanctioned proposal, the bank officials had also given credit limits to RS Distributors and Co and Lancer Healthcare, both having ties to Manish Kumar.
However, when bank officials had vetted the loan proposal, they found several irregularities.
It was found that the borrower had submitted forged documents to cheat the bank.
"Many of the bank documents had evidence of colour fading and the borrower had suppressed the details of his associate concerns, and the due diligence report filed by Solomon Consultancy was also found to be deficient," said a CBI official.
During the bank's internal investigation, it was found that Pavan Arya and Sukanta Chandra Rout,
both former chief managers at the bank, had colluded with each other to overlook the discrepancies with the due diligence report. "Sukanta was the branch head and booked a proposal of Rs 9 crore, which turned out to be a fraud committed by the accused.
He actively colluded with Arya to facilitate the borrowers. The money trail has also been identified in the accounts owned by Sukanta and his family members," the official added.