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CBI files FIR against officials of Union Bank for violating note ban norms

It registered cases under IPC sections related to criminal conspiracy, cheating forgery, corruption

Press Trust of India  |  New Delhi 

CBI files FIR against officials of Union Bank of India for violating norms

The has registered an FIR against the then officials of of and others for allegedly allowing of about Rs 85 crore after announcement of in violation of norms.

The has registered cases under sections pertaining to criminal conspiracy, cheating forgery and corruption.

The FIR has been registered against the then Deputy General Manager Ashok Kumar Dhabhai, and the Assistant General Manager K Shivashankarrao, both of Union of India

Shivashankarrao is also the manager of Zaveri Road branch of the

Three jewellers Rakesh Patel of Pihu Gold, Mayur Deepak Chawla of Satnam Jewellers and Amit Sampat, Director of Pushpak Bullion Pvt Ltd--all based in Mumbai--have also been named in the FIR along with the company Pushpak Bullion.

"It was alleged that between November 15, 2016 and December 26, 2016, huge amounting to Rs 47.45 crore (approx) and Rs 37.15 crore(approx) were fraudulently shown as deposited in the accounts of two private firms based in with Union Bank of India, Zaveri Bazar Branch, Mumbai," Spokesperson R K Gaur said in a statement today.

He said the said amounts were further transferred to another firm Pushpak Bullion whose account was also maintained in the said Zaveri Road branch of the bank.

"The huge was deposited in the currency chest of bank in old demonetised currency notes purportedly by representative of the said firms in an alleged conspiracy with DGM and AGM. Thus, the accused persons violated the RBI Guidelines issued on November 08, 2016," Gaur said.

He said searches were conducted at 12 places including residential and office premises of accused persons which led to recovery of "incriminating documents".

First Published: Tue, March 07 2017. 18:44 IST