CBI files chargesheet against IOB Union president

CBI has filed a charge sheet in a court against All Indian Overseas Bank Employees Union president L Balasubramanian and his family members in a disproportionate assets case.
Balasubramanian (62), his wife B Vijaya and his sister L Meenakshi allegedly conspired and collected Rs 3.20 crore from bank employees and diverted the amount to a trust in which they were members.
They had allegedly collected money by giving a false reason.
CBI's Anti-Corruption Bureau, in its charge sheet filed in the Special Court for CBI cases, accused the trio of collecting Rs 3.20 crore while their total income was Rs 51 lakh and expendiutre Rs 11 lakh during the check period of January 1, 2010 to June 30, 2012.

Later, the three purchased properties in various places, including Palani, Karaikudi and Tiruchirappalli in Tamil Nadu, the charge sheet said.
Supported allegedly by a section of union office bearers, Balasubramanian had allegedly circulated pamphlets in all the branches and collected Rs 25,000 as 'advertisement charges' towards padayatra to Palani hill temple and expenses incidental to it.

Balasubramanian had also been held by CBI in a 2014 IOB recruitment scam using forged documents in Tamil Nadu.
He joined IOB as a godown keeper in 1972 and was promoted as Special Assistant. He was elected president of All Indian Overseas Bank Employees Union (AIOBEU) in April 1991.

After retirement, he continued to hold his union post. Vijaya joined Indian Bank as a clerk in 1985 and took voluntary retirement in 2000.
Meenakshi was an Assistant Manager in IOB and opted for VRS in 2001.