Cbi registered a case regarding a bank fraud
Guest
(Querist) 07 January 2014
This query is : Resolved
thank you sir
Devajyoti Barman
(Expert) 07 January 2014
Clearing of loan will not help the case to end as the crime once committed can not be mitigated by repaying fund defalcated.
You better apply for bail and wait for trial to proceed.
Sudhir Kumar, Advocate
(Expert) 07 January 2014
Agreeing with Mr Barman I would add:-
your query is absolutely vague
Who are your people arranging money?
what is the loan?
how you were victim
Guest
(Expert) 07 January 2014
Well advised by above Expert Mr.Barman ,Consult a near by Lawyer.Default in Payment Case is different and Fraudulent and Cheating Case is different and there should be two cases against you.
Guest
(Querist) 07 January 2014
thank you very much for your kind information... allow me to tel ,e some thing about my case... when i was working for real estate company the management availed housing loans from a nationalized bank by involving me and my co employes as (each 12 lacks, 30 loans).
management updated loans for 6 months... afterwords they fails in serving interests. when the loans are turned NPA bank high officials are inquired it and suspended the manager in last year. management cleared 4 loans in last august. recently bank approached CBI as per their norms. bankers clearly know that all of the borrowers are employes.. and total fund used for the project. they reported the same to CBI.
all properties for the loans are belongs to same company and mortgaged to bank.
recently CBI approched me and other employes. i said to them that as per my management order only i involved in this issue. many others also said what exactly happen. this is as of today....
even today also approached CBI n said what truly happened. they said call u later.
company management planning to clear loans in two weeks
now plz tell me what will be happend.
thank you
Guest
(Expert) 07 January 2014
Sorry Repeated Query
Kumar Doab
(Expert) 07 January 2014
Right.
It is repeated query, however it has been addressed in detail.
malipeddi jaggarao
(Expert) 08 January 2014
Repeated query. Sufficient guidance is given at the first post. I suggested you not to worry and co-operate with CBI in their enquiry. Why are you repeating it?
Sudhir Kumar, Advocate
(Expert) 08 January 2014
I am yet to agree with Mr Jaggarao.
YOU STATED
loans from a nationalized bank by involving me and my co employees as
YOU NEVER STATED
In what way you were involved?
Were you the signatory of application?
Were you guarantor?
Were you merely courier of forms?
YOU STATED
turned NPA bank high officials are inquired it and suspended the manager.
YOU NEVER STATED
Why the manager was suspended?
Did he connive with non-viable loan?
Did he overlook the deficiencies in application?
Did he disburse more than sanctioned?
Did he disburse to third party?
YOU STATED
loans are belongs to same company and mortgaged to bank.
YOU NEVER STATED
Then why the loan is non-recoverable?
You may be needed as accused or as witness in this case and refund of fraudulently obtained loan will not wipe out criminal liability.
You are repeatedly saying that you were involved only as an employee.
It is not relevant if you were employee or proprietor all that is relevant is that whether or not you were participant in crime or not.
If a person commits a crime for furtherance of interest of the employer the criminal liability is not restricted to the employer.
If your version is taken anyone can open pickpocket syndicate and employs his workers in buses and trains or could open a robbing company and his labourers shall not be liable for prosecution.
Guest
(Querist) 08 January 2014
extremely sorry for repenting my query ... becoz of fear and confutation only i did it..
sudhir kumar ji thank you very mush for valuable answers ... i wil clear how i involved in this ... when i am working for that real estate company that MD approached the bank for project funding... bank come foreword to funding the company.. while that process taking huge time... but MD wants to overcome the financial crises immediately.. same thing MD discuses with bank manager, then bank manager offered instant HOME LOAN process.
in that process my company shown us as their costmores and registered under constructed houses on our name.
company issued payment receipts for 20% of the bulding cost. and they arranged payslips to all of us from their known firm.
then we submitted these all along with legal opinion from bank lawyer. and valuation report.
after mortgage proses at register office bank manager disbursed loan amount which is in his limit as RTGS to my company account.
slowly this process repeated 30 times with 30 different persons in 5 months. so total amount reaches 4 cr.
i will clear y manager suspended .
bank vigilance team found below listed points
1.bank manager disbursed total loan amount at single time.
2. all the home loan borrowers are employes of the compiny. and it is not a real loan process.
it is only to help that company.
based on this report bank suspended the manager...
after words management approached bank higher officials and requested some time to clear loans..
so many times assured bank that they will clear loans shortly. but they failed.
and now case registered in CBI . CBI team searched my company managing partners houses and offices recently.
Guest
(Querist) 08 January 2014
thank you malladi sir for your positive support
ajay sethi
(Expert) 08 January 2014
no reply to repeated queries
T. Kalaiselvan, Advocate
(Expert) 12 January 2014
Bank loans and frauds, time and again repeated, is there any use to the author despite many advises by many of the experts here. He seems not to listen but keep repeating his query in one or the other form.
Sudhir Kumar, Advocate
(Expert) 12 January 2014
The author has clearly stated
MD approached the bank for project funding... bank come foreword to funding the company.. while that process taking huge time... but MD wants to overcome the financial crises immediately.. same thing MD discuses with bank manager, then bank manager offered instant HOME LOAN process.
in that process my company shown us as their costmores and registered under constructed houses on our name. MD approached the bank for project funding... bank come foreword to funding the company.. while that process taking huge time... but MD wants to overcome the financial crises immediately.. same thing MD discuses with bank manager, then bank manager offered instant HOME LOAN process.
in that process my company shown us as their costmores and registered under constructed houses on our name. "
HE HAS DISCLOSED THAT HE IS PARTICIPANT IN CRIME.
While the company needed money for commercial purpose he came forward as a loanee (ONLY HE KNOWS FORWARD PURPOSE LOAN WAS SHOWN IN RECORDS)which was used for company's job (FOR WHICH LOAN WAS YET TO BE SANCTIONED). A dishonest Bank Manager connived with them for this.
THERE IS BRIGHT LIKELIHOOD OF HE BEING ACCUSED ALONGWITH HIS SO CALLED MD and 30 others.
Plus since the loan is in his name he was to refund the same to bank (through his nose) if his MD is unable to do so.
Sudhir Kumar, Advocate
(Expert) 13 January 2014
further as long as the loan is not repaid you continue to be registered as defaulter n CIBIL and will not get any loan from any bank.
Advocate. Arunagiri
(Expert) 13 January 2014
If your case:- borrowing from the nationalized bank - non payment - no serious allegations like forgery.
Once you repay the loan amount, normally the CBI will close the case.
Sudhir Kumar, Advocate
(Expert) 13 January 2014
I am not confident if CBI will close case on repayment of loan. They are not a recovery agency. They have a case (most likely nationalised Bank) and their report is subject to be accepted by CVC.
On the contrary the loan will still be recovered from you whether CBI closes the case or not.
Guest
(Querist) 15 January 2014
Thank u , thank u very much to all ...
I am honestly ready to face any kind circumstances
... I wil post important updates in my case...
At least It might be a reference for u r forthere ...
.. Thank u once again
Guest
(Expert) 15 January 2014
Dear Vijay Kumar,
The case by CBI relates to criminal offence about fraud committed to take bank loans from the bank with forgery of documents and false presentations, not on the issue of failure to pay interest. Had the case not been handed over to the CBI and the bank would have restricted its activities merely to the process of recovery of debt at its own, the case would have been settled by payment of loan amount along with interest.
When the case goes to the CBI that doesn't go for recovery of the amount but for investigation on the issue of fraud/ violation of provisions of law.
So, irrespective of whether your company or the individual debtors repay the loan within 3 days or not, the case would proceed further for trial after completion of CBI investigation. The CBI cannot withdraw the case, if it finds violation of law of the land.
So, better defend your case on merits only, not by showing any smartness.
malipeddi jaggarao
(Expert) 16 January 2014
Well explained by expert Mr.Dhingra. You confine to your role and when interrogated, explain the CBI under what circumstances you have done these things. If they believe you, the severity will come down. But it takes lot of time for decisions in CBI cases. Instead of worrying now, gather evidence in your favour and keep it ready for use if necessary.
Guest
(Querist) 21 January 2014
thank you all once again
Devajyoti Barman
(Expert) 22 January 2014
thread still active when the query is resolved long ago.
