CBI registers case against Kolkata’s RP Infosystems for Rs 515.15 crore loan fraud

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.

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.

- Advertisement - - Article resumes -

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.

Share and Support:
Support OpIndia by paying for content

Most read articles recently

Activist opposing Akshaya Patra’s mid-day meal contract thinks ‘Brahmins obstruct India’s development’

The Akshaya Patra has come under criticism recently for not including onion and garlic in its mid-day meals for school children.

Mumbai Police teaches a lesson in humility to ‘special’ Sonam Kapoor

Actor Dulquer Salman clarified that he and Sonam were sitting inside a car that was rigged to a truck and hence were not breaking traffic rules.

Uttar Pradesh: Eight cattle smugglers arrested in Bahraich with arms and ammunition

The smugglers even tried to trample the police personnel with their vehicle.

Church of South India Archbishop Dyvasirvadam arrested in church fund scam, reports Times of India

According to the report, archbishop Dyvasirvadam was allegedly involved in misappropriation of church fund for over a decade

Rafale: SC examined the pricing details closely, ‘did not rely’ on CAG report as claimed by Rahul Gandhi

Rahul Gandhi has claimed that the Supreme Court verdict on Rafale was based only on the CAG report, while it is not true

Double whammy for Congress in court: After Rafale verdict, Rakesh Asthana’s appointment as special director gets SC approval

The Supreme Court's verdict is being seen as the second major embarrassment for both the Congress party and Prashant Bhushan, as the Supreme Court had earlier rejected a plea on the issue of a probe concerning the Rafale deal.

Congress friendly journalist wishes death upon BJP Delhi spokesperson Tajinder Bagga

During the run-up to Gujarat assembly elections last year, Trivedi was caught spreading morphed images with Amit Shah's fake quotes on Patidars

Pro-Congress troll resumes fake news website, makes outlandish claims on Rafale targeting Modi

Abhishek Mishra has been associated with the website which spreads fake news and Islamist propaganda
Modi government vindicated, SC says Rafale Deal clean

SC verdict on Rafale deal: Read scathing comments made by Court while dismissing petitions for inquiry

Supreme Court dismissed petitions for an enquiry into Rafale deal pricing, offset partner selection and procurement procedure. Read scathing observations

Rafale: They wanted to pull Modi down to their level

The Congress and its ecosystem is strong and well oiled.

Latest articles

Connect with us


Don't miss these