By TIOL News Service

BANGALORE, AUG 03, 2014: ONE of the key reasons for zooming graph of Non-Performing Assets (NPAs) in our public sector banks has been the matching corruption. Generally, lower and middle-level bankers are booked for various kinds of losses caused to the Government. But for a change, the CBI yesterday booked the Chairman & Managing Director of Syndicate Bank and 11 other private persons including CMD & Directors of two private firms based at Delhi in a bribery case.

It has been alleged that the CMD has been indulging into negotiations for illegal gratification directly as well as through middlemen for extending undue favour to private companies by granting sanction to various financial proposals. The private persons on behalf of companies and others allegedly entered into criminal conspiracy and obtain illegal gratification meant for the public servant and further deliver it to the middlemen on behalf of the public servant.

It is further alleged, that in one case, the public servant was directly negotiating with a private company for an illegal gratification of Rs. 50 lakhs in lieu of granting credit extension to the said company as it had defaulted on the payment of loan installments amounting to crores of rupees to the bank. The officials of the said company allegedly agreed to pay the said illegal gratification and the money was transferred to the middlemen who are also relative of the public servant. CBI laid a trap and recovered the illegal gratification of Rs. 50 lakhs on the spot after the said delivery was made.

Searches were conducted at 20 places including office & residence of the public servant and other private persons at Delhi, Bhopal, Mumbai & Bengaluru. During searches incriminating documents related to the case have been recovered. Apart from this, huge cash; jewellery and property documents have been recovered from the residence of the public servant.

In another case the CBI arrested a Head Master, Railway Boys High School, North Lalaguda, Secunderabad and a Chief Office Superintendent of South Central Railway Railway, Hyderabad for allegedly demanding and accepting a bribe of Rs. one Lakh in cash and two cheques of Rs. One Lakh each.