In another bank fraud case after the PNB scam, the Central Bureau of Investigation today lodged a case against Kolkata based RP Infosystems and three of its directors for an alleged Bank Fraud of Rs 515.15 crores. The company was known for producing the ‘Chirag’ brand of personal computers.
Central Bureau of Investigation (CBI) registered a case of bank fraud worth Rs 515.15 crores against RP Infosystem & its directors
— ANI (@ANI) February 28, 2018
Republic TV has reported that the CBI has also brought charges against a consortium of 17 leading PSU Banks including SBI, PNB, Union Bank of India, Oriental Bank of Commerce and Canara Bank. According to reports, the case has been registered under section 120B (criminal conspiracy), 420 (cheating), 468 and 471 of the Indian Penal Code. The charges also include criminal misconduct by a public servant.
The accused, as per reports, procured the 515.15 crore loans from Canara Bank on the basis of forged documents and fake debtor’s stock papers and later willfully defaulted on the loan by diverting the funds. Letters of Credit were issued by different members of the PSU banks consortium since 2012.
The names of the three directors of the RP Infosystems are Shivaji Panja, Kaustuv Ray and Vinay Bafna. It is notable here that the accused directors of RP Infosystems have another CBI case against them pertaining to loan fraud complaint by IDBI bank. The bank had alleged then that the three directors had availed loan on the basis of forged papers and caused a loss of 180 crores to the bank.
In June 2015, CBI had conducted raids on six properties including offices and residences of the accused. One of the accused Shivaji Panja has alleged links with Trinamool Congress. In February 2015, Panja was detained at Dumdum airport by the police while returning from Dhaka as part of the West Bengal CM Mamata Banerjee’s entourage. That time too, Panja had been arrested on charges of obtaining an 18 crore financial assistance from IFCI Factors Ltd, a government-run finance institution on the basis of forged documents.
Panja allegedly had very close links with Mamata Banerjee. He was appointed a member of a task force by the Department of Information and Culture by the TMC government. He was also made a member of the tele-academy set up by the CM. He was also convenor of the Kolkata International Film Festival and was in-charge of the CM’s painting exhibitions.
Though Mamata Banerjee and TMC leaders had denied any links with Panja, further investigations are expected to reveal more details.