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CBI raids 50 Delhi locations in ₹6,172 crore forex transaction case

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New Delhi: The CBI on Sunday raided 50 locations in Delhi in its ongoing probe in connection with a Bank of Baroda branch transferring over Rs.6,172 crore in foreign exchange to Hong Kong, officials said.

The premier investigation agency conducted the raids at the addresses given by the Bank of Baroda branch in Ashok Vihar area of north Delhi, which transferred the money via forex transaction.

“Most of the addresses given by the firms involved were found to be false. But raids continued at 50 locations in the city,” a CBI official said.

However, an official confirmed that the key figures involved have been identified and interrogation of important suspects was underway.

The Central Bureau of Investigation (CBI) along with the Enforcement Directorate on Saturday raided three premises including the Bank of Baroda’s Ashok Vihar branch, and residential premises of two bank officials whose roles have reportedly emerged in the forex transaction case.

Saturday’s raid was conducted a day after the Congress hit out at the Narendra Modi government in relation with transactions at the Bank of Baroda branch, saying they were in contravention of rules.

The CBI on Saturday also registered a case against 59 account holders and unknown bank officials and private people in the case.

The case, registered under various sections related to criminal conspiracy, cheating and corruption, was filed as the probe agency raided the Ashok Vihar branch of the bank.

“It was alleged that 59 current account holders and unknown bank officials conspired to send overseas remittances, mostly to Hong Kong, of foreign exchange worth approximately Rs.6,000 crore in illegal and irregular manner in violation of established banking norms under the garb of payments towards suspected non-existent imports,” a CBI statement said on Saturday.

(IANS)

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Kanishk Gold Directors Questioned in Loan Fraud Case

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A Central Bureau of Investigation official told IANS: "Questioning of KGPL Directors Bhoopesh Kumar Jain and Neeta Jain is being carried out at our Bengaluru office." Pixabay

The CBI on Thursday said that it was questioning the directors of Kanishk Gold Pvt. Ltd. (KGPL) in connection with its ongoing probe into the alleged defrauding a consortium of 14 banks led by the SBI to the tune of Rs 824 crore.

Bhoopesh and Neeta Jain had arrived here on Wednesday evening, according to the official.

kanishk gold
The agency also conducted searches at KGPL’s office as well as official and residential premise of accused persons at various places in Chennai. Pixabay

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The questioning comes in the wake of the case it registered against the Chennai-based jeweller on Wednesday for defrauding the consortium of Rs 824.15 crore in the form of loans, now been declared a non-performing asset (NPA). IANS

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