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Disproportionate assets case: Virbhadra Singh and family to be questioned by CBI

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By NewsGram Staff Writer

Himachal Pradesh chief minister Virbhadra Singh, and his family will be questioned by the CBI in connection with its probe into disproportionate assets worth Rs 6.10 crore acquired by them.

The Congress leader was examined last year in Delhi in connection with its probe into corruption in the State Trading Corporation and alleged revised Income Tax returns.

Singh will now be formally examined again to find out the sources of income. Though the agency refused to give a timeline for examining Singh and his family members.

The CBI allegations against Virbhadra Singh are that as Union steel minister, he acquired disproportionate assets worth Rs 6.10 crore.

The money was then invested in LIC policies through an insurance agent, Anand Chauhan, showing it as agricultural income which is exempt from income tax.

Singh filed IT returns for assessment years 2009-10, 2010-11 and 2011-12 showing agricultural income of Rs 735,000, Rs 1,500,000 and Rs 2,500,000 respectively.

In order to explain the unaccounted money, Singh filed revised IT returns in 2012 for assessment years 2009-10, 2010-11 and 2011-12.

According to the CBI, the documents showing revised agricultural income, revealed an 18 to 30-fold increase in income in the three years which was Rs 2.21 crore, Rs 2.8 crore and Rs 1.55 crore respectively (total Rs 6.10 crore).

“The said income (Rs 6.10 crore) of the revised ITR was allegedly earned through agricultural income at Srikhand Apple Orchards in Rampur, Shimla. LIC agent Anand Chauhan was given the charge to manage the orchard at a commission of two percent. The orchard did not have that kind of production that it can give income of Rs 6.10 crore in three years,” the agency said.

Meanwhile, Virbhadra Singh said in a statement that “he and his family members were being targeted out of political vendetta”.

“The CBI probe is political vendetta against me and witch-hunting being manipulated by the NDA government on the behest of former Chief Minister Prem Kumar Dhumal. I have been cleared by court in all the cases earlier”, Singh said.

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The CBI Arrests Two Senior Retired Officers Of Bank Of India

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The CBI Arrests Two Senior Retired Officers Of Bank Of India: Bank Of India Fraud
The CBI Arrests Two Senior Retired Officers Of Bank Of India: Bank Of India Fraud. IANS

The CBI today arrested two senior retired officers of Bank of India in connection with alleged loan fraud of Rs 2,654 crore by Vadodara-based Diamond Power Infrastructure Ltd. (DPIL) in the bank. V V Agnihotri and P K Shrivastava, retired GM and DGM respectively, had allegedly granted undue favours to the company in granting credit limits, the officials said.

They said both have been arrested today and will be produced before special court in Ahmedabad tomorrow.The promoters of the company were arrested in April this year. The agency in an FIR had said that the DPIL, which manufactures electric cables and equipment, is promoted by Suresh Narain Bhatnagar and his sons Amit and Sumit, who are also the directors of the firm.

Bank of India
Bank of India. Flickr

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The loan, it said, was declared a non-performing asset in 2016-17. “It is alleged that the DPIL, through its management, fraudulently availed credit facilities from a consortium of 11 banks (both public and private) since 2008, leaving behind an outstanding debit of Rs 2,654.40 crore as of June 29, 2016,” the agency had said. (IANS)