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In connection with an ongoing investigation into an alleged loss of more than Rs 30 crore to the Rail Land Development Authority (RLDA), the Central Bureau of Investigation (CBI) has detained five people, including two retired government officials.
Vivek Kumar, then the manager of RLDA, Jaswant Rai, then the branch head of the Bank of Baroda, Shahdra, and three other people — Gopal Thakur, Hitesh Karelia, and Nilesh Bhatt — have been identified as the accused.
All the accused were produced before Competent Court and then remanded to judicial custody.
“A case was registered on a complaint from Rail Land Development Authority (RLDA), a statutory body under the Ministry of Railways against unknown public servants and unknown private persons on the allegations that RLDA had been put to a loss of Rs 31.50 Crore (approx) by unknown public servants and officials of Bank of Baroda, Vishwas Nagar Branch, New Delhi. It was alleged that RLDA had initially invested an amount of Rs 35 crore (approx) for one year in the form of Fixed Deposit (FD) at Bank of Baroda, Vishwas Nagar Branch, Shahdra, Delhi and thereafter the maturity proceeds were supposed to be re-invested, for a period of three months,” CBI officials said.
“However, the bank invested only Rs. 3.50 Crore in Fixed Deposit (FD) and the remaining Rs 31.50 crores were diverted to different shell companies with the connivance of Bank officials, RLDA Officials and Private Persons. Only the maturity proceeds of Rs. 3.50 Crore were reinvested for three months. This resulted in the loss to RLDA,” they added.
As per the officials, it was also alleged that the accused diverted the funds deposited with the Bank of Baroda into the accounts of various Mumbai-based shell companies and thereafter the same was withdrawn and misappropriated. The alleged role of officials of the Rail Land Development Authority (RLDA), Delhi has also emerged in this case. Further investigation is underway.
With Agency Inputs
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