Bank corruption case: CBI court accepts closure report

The complaint was filed by chief manager Sandeep Rathee of the stressed assets management vertical branch, Indian Bank, Sector 8-C, Chandigarh, on April 9, 2025

The special CBI court accepted the closure report filed by the Central Bureau of Investigation (CBI) in a cheating and corruption case filed by Indian Bank.

The complainant was also satisfied with the closure report submitted by the CBI. (HT Photo for representation)

The complaint was filed by chief manager Sandeep Rathee of the stressed assets management vertical branch, Indian Bank, Sector 8-C, Chandigarh, on April 9, 2025. He alleged that Deepak Cosmo Limited, through its directors, hatched a conspiracy with Rajeev Pandey, Munish Dewan and Sarthak Garg along with unknown public servants and private persons, to cheat the Indian Bank and availed credit facilities.

The borrower failed to repay the loan amount to the complainant bank, resulting in a wrongful loss of around ₹22.5 crore to the bank.

During the investigation, it was revealed that no act of omission and commission on the part of the bank officers or officials had been disclosed, nor the staff accountability report of the bank spoke about any lapse on the part of the bank officials. No criminal act of misrepresentation of facts/submission of forged documents could be attributed to the accused persons when availing, enhancing, or renewing credit facilities from the complainant bank.

The complainant was also satisfied with the closure report submitted by the CBI. “In view of the above said circumstances, the court is satisfied with the closure report. Accordingly, the same is accepted at this stage,” the court observed.