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Top bank officers held in housing finance scam
Mumbai/New Delhi, Nov 24 (IANS):
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Published on 25 Nov. 2010 12:00 AM IST
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Top officers of some state-run banks and financial institutions were arrested by India's federal probe agency Wednesday for allegedly accepting bribes to extend loans to corporate houses in a housing finance scam. "In today's raids, we have seized incriminating documents and those documents would now be further scrutinised. Meanwhile, we have registered five separate cases and the investigation is in progress," Central Bureau of Investigation spokesperson Anurag told reporters here.
"We have arrested Ramachandran Nair, chief executive officer of LIC Housing Finance, Mumbai; Naresh K. Chopta, secretary investments, LIC, Mumbai; R.N.Tayal, general manager, Bank of India (Mumbai); and Maninder Singh Johar, director, Central Bank of India, New Delhi," he added.
Among others who have been arrested are Venkoba Gujjal, deputy general manager of Punjab National Bank, New Delhi, and Rajesh Sharma, chairman and managing director, and two executives of Money Matters Financial Services -- a Mumbai-based listed firm.
The CBI busted the racket wherein the private financial services company's chairman and managing director and other associates were found allegedly bribing senior officers of the public sector banks for facilitating large scale corporate loans.
However, Central Bank of India denied any of its general managers has been arrested.

 
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