Bribes-for-loans: 3 sent in CBI custody | india | Hindustan Times
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Bribes-for-loans: 3 sent in CBI custody

A day after the special Central Bureau of Investigation court granted bail to all eight accused in the alleged cash-for-loan scam case, the special court remanded three accused, rearrested on Friday, again to the CBI custody in connection with other first information reports.

india Updated: Dec 05, 2010 02:01 IST
HT Correspondent

A day after the special Central Bureau of Investigation (CBI) court granted bail to all eight accused in the alleged cash-for-loan scam case, the special court remanded three accused, rearrested on Friday, again to the CBI custody in connection with other first information reports (FIR).

The CBI had registered five different cases in connection with the scam.

The CBI had arrested Ramchandran Nair, CEO of LIC Finance; Naresh Chopra, secretary (investment), LIC; RN Tayal, general manager, Bank of India; Maninder Singh Johar, director, Bank of India; Venkoba Gujjal, deputy general manager, Punjab National Bank; Rajesh Sharma, chairman and managing director of Money Matters, and his two employees Suresh Gattani and Sanjay Sharma on November 24 for their alleged involvement in the cross-country housing loan racket.

Sources in the CBI had alleged that large loans were sanctioned for corporations in return for bribes to top LIC and bank officers, with Money Matters acting as the go between.

However, as soon as the court had granted them bail, the CBI on Friday arrested Rajesh Sharma, Suresh Gattani and Sanjay Sharma in connection with another FIR.

The CBI had registered five FIRs in this case.

"They were arrested in connection with two cases of taking loan from LIC, Central Bank of India and third case of favoring Adani group and Lavasa," said special CBI prosecutor Ejaz Khan.

The court has remanded Rajesh, Sanjay and Gattani in CBI custody until December 9.