CBI arrests two officials of Kolkata firm in Rs 515-cr bank fraud case
The investigation agency had registered a case against RP Infosystems and its directors on February 28 in connection with a number of loans sanctioned between January 2012 and September 2013.kolkata Updated: Mar 15, 2018 23:02 IST
The CBI on Thursday arrested two top officials of a Kolkata-based firm for allegedly defrauding a consortium of banks of Rs 515.15 crore.
RP Infosystems directors Shivaji Panja and Kaustuv Ray were taken into custody around 5.30 pm at the Central Government Officers Complex in Salt Lake following an interrogation session that extended over four hours. The duo will be produced in court on Friday.
“They submitted forged documents and failed to provide satisfactory answers to some questions,” a CBI officer said on condition of anonymity.
The investigation agency had registered a case against RP Infosystems and its directors on February 28 in connection with a number of loans sanctioned between January 2012 and September 2013. The FIR filed in this regard also mentioned co-director Vinay Bafna, vice president (finance) Debnath Pal as well as unidentified bank officials. They have been charged with criminal conspiracy, cheating, dishonestly inducing delivery of property, forgery for the purpose of cheating, using a forged document as genuine and criminal misconduct by a public servant, among others.
It was also alleged that the debtors list submitted by the accused to the lending banks was fabricated. Officials familiar with the matter said the companies depicted as debtors had not purchased any computers or accessories from RP Infosystems, although payment from them was shown as due.
“It has come to the notice of the consortium bank that the company availed bank finance/funds by submitting fabricated debtors/receivables/inflated stock statements,” a complaint submitted by Canara Bank to the CBI stated.
Ray had claimed on the day of the FIR registration that the matter has already been investigated by the CBI, and a charge sheet filed in this regard. “We have already obtained a stay against it from the Calcutta high court,” he added.
According to the complaint lodged by Canara Bank deputy general manager DV Prasad Rao on February 26, the directors had cheated ten banks of a consortium (including his institution) to the tune of Rs 515.15 crore. Letters of credit opened by different members of the consortium began devolving from 2012 due to non-maintenance of funds.
“The borrower company dishonestly and fraudulently refrained from routing the sale proceeds through the loan account, and siphoned off the entire amount,” the FIR read.
RP Infosystems had launched its business of computer hardware assembly under the ‘Chirag’ brand name in 2005. Ten years later, the CBI booked Panja for allegedly duping a Delhi-based company of Rs 18 crore while he was returning from a trip to Dhaka with chief minister Mamata Banerjee. The state police detained him on the basis of a lookout notice issued by the Delhi police’s economic offences wing.
The two accused were asked to appear before the CBI at 10 am on Thursday. While Panja arrived on time, Roy came around 12.30 pm.