Four held for Sikkim overdraft fraud
Posted by Ramesh Khati on November 17, 2009
Gangtok, Nov. 16(Telegraph): Four persons were arrested today for their attempts to withdraw Rs 85 crore as overdraft from the State Bank of Sikkim by fraudulent documents.
The four arrested — Sunil Rai, Subroto Banerjee, Gautam Das and Sudip Malik — have been charged with cheating, fraud and criminal conspiracy under different sections of the IPC, said S.T. Bhutia, the senior superintendent of police, crime branch.
“We had started investigations into the case after receiving credible information. Today, we registered the case against the four following nightlong raids at their residences,” Bhutia said. He refused to elaborate further.
Sources said the CID seized four cheques drawn in favour of one P.K. Anand — three worth Rs 25 crore each and one worth Rs 10 crore — from the bank, besides documents. The cheques were dated between November 10 and 13. The identity of Ananda is yet to be established.
Investigations reveal that as part of the overdraft deal, the four had provided collateral based on false documents from three companies which are based in different parts of the country but have offices in Gangtok. According to the agreement, the payment would have been made in November 2014.
A probe is on the antecedents of the companies and whether they had adequate funds in their accounts held with the bank. The CID has not ruled out the involvement of bank officials.