EMAIL ON 3-1-2005 TO CM
From :Pankaj S Mody
40 BMM Society
Paldi, Ahmedabad 380 006
January 3, 2005
Respected Shri Narendrabhai,
Subject: SOS MESSAGE FOR PROTECTION AS WELL AS ACCOMODATION FOR CONDUCTING INQUIRY.
my previous emails are archived on the link:-
http://cmguj.blogspot.com
This is in reference to the banking fraud in GTB and my seeking protection as well as investigation.
I would like to draw your attention that the police authorities because of their lack of understanding has had shown lukewarm approach for conducting inquiry in the matter even when over six months have lapsed. Till date they have not taken the initiative to conduct inquiry in the matter.
I have reason to feel that unless one keeps the Police authorities happy , no one wants to listen and carry out investigation.
As per the information which appeared on internet , some criminal cases have been filed against some of the borrowers of GTB. The infromation appeared today on net and the same is annexed herewith..
In view of such circumstances, I once again humbly request you to carry the investigation in presence of the Magistrate by recording the statement of the parties involved in borrowing Rs 12.5 crores while giving protection to me and arranging for my residence.
I have given the statement to the Law garden Police chowky recently under file 178/2004 to PSI Bhagora on 1-1-2005.
I look forward to your immediate reply as my life can be in danger because of crook Sushil Handa and his associates.
Till the inquiry is completed , the immoveable property is attached and acquired by the Government of Gujarat as there has been violations of Gujarat stamp duty as well as violations of provisions of the Income tax. They have violated also the stay of the Revenue of Government of Gujarat at the time GTB created charge in August 1998 which becomes criminal offence.
I most humbly request you to take up the present issue at lightining speed by arranging for protection as well as accomodation as referred in my separate email.
THANKING YOU.
YOURS SINCERELY,
PANKAJ S MODY
Criminal cases filed by OBC in GTB as reported on 3-1-2005 :-
http://pib.nic.in/release/release.asp?relid=6221
Oriental Bank of Commerce (OBC) in its due diligence exercise after the amalgamation of the erstwhile Global Trust Bank Ltd. (EGTB) has come across cases of borrowal accounts where serious financial improprieties have been observed. Internal investigations have revealed that the Bank has taken high credit exposures in certain accounts even exceeding exposure norms prescribed by Reserve Bank of India. High degree of imprudence in exercise of sanctioning powers have been observed where the bank appears to have abetted certain group of borrowers to siphon off funds through banking channel. The conduct of most of these accounts reveal that deliberate attempts have been made to camouflage the position of NPAs by making fresh sanctions in sister/allied concerns including some front companies.
On the basis of internal investigation OBC has filed criminal complaints with the CBI in the following cases :
( i) In the case of M/s Unitel Software Ltd. for having caused wrongful loss to the tune of Rs. 676.79 lakhs to the bank in the matter of sanction, disbursal and utilization of the credit facilities. The CBI Mumbai has registered a regular case under Section 120-B read with Section 409 and 420 of the Indian Penal Code vide case No. 1/C/28/2004-BS&FC/LO.
(ii) In the case of Shri Ashok Advani of M/s. Business India Publications, Mumbai, the CBI has registered a regular case No. 1/C/33-2004/BS&FC/LO under Section 120-B read with Section 409 and 420 IPC against Shri Ashok Advani and unnamed officials of the bank for cheating the bank to the tune of Rs. 15 crores by obtaining credit facilities on the basis of misrepresentation. It was falsely mentioned in the process note that the account of M/s Business India was a new one, whereas Business India was banking with erstwhile GTB since 1994 and had defaulted in payment of credit facilities sanctioned earlier.
(iii) In the case of M/s Petro Energy Products Co. Ltd. (PEPCO), the Company cheated the erstwhile GTB to the tune of Rs. 78.41 crores at Bandra, Mumbai Branch and Rs. 23.15 crores at the Chennai Branch. CBI has registered a PE at Mumbai against M/s PEPCO and unnamed bank officials vide case No. 1/C/31/2004-BS&FC/LO.
(iv) In the case of M/s. Shonk Technologies International Ltd. (STIL), a wrongful loss to the tune of Rs. 38.49 crores was caused to the erstwhile GTB on the basis of misrepresentations and diversion the funds for purposes other than for which the loan was sanctioned. CBI has registered a PE vide case No.1/ C/30/2004-BS&FC/LO.
(v) In the case of M/s Pearl Distilleries Ltd., CBI has registered a complaint at Bangalore for having caused wrongful loss of Rs. 10.28 crores to the bank in the sanction and disbursal and utilization of credit facilities vide case No. 1/C/32/2004-BS&FC/LO.
Some other cases are also being examined and it is likely that OBC will lodge further complaints with CBI in due course.
40 BMM Society
Paldi, Ahmedabad 380 006
January 3, 2005
Respected Shri Narendrabhai,
Subject: SOS MESSAGE FOR PROTECTION AS WELL AS ACCOMODATION FOR CONDUCTING INQUIRY.
my previous emails are archived on the link:-
http://cmguj.blogspot.com
This is in reference to the banking fraud in GTB and my seeking protection as well as investigation.
I would like to draw your attention that the police authorities because of their lack of understanding has had shown lukewarm approach for conducting inquiry in the matter even when over six months have lapsed. Till date they have not taken the initiative to conduct inquiry in the matter.
I have reason to feel that unless one keeps the Police authorities happy , no one wants to listen and carry out investigation.
As per the information which appeared on internet , some criminal cases have been filed against some of the borrowers of GTB. The infromation appeared today on net and the same is annexed herewith..
In view of such circumstances, I once again humbly request you to carry the investigation in presence of the Magistrate by recording the statement of the parties involved in borrowing Rs 12.5 crores while giving protection to me and arranging for my residence.
I have given the statement to the Law garden Police chowky recently under file 178/2004 to PSI Bhagora on 1-1-2005.
I look forward to your immediate reply as my life can be in danger because of crook Sushil Handa and his associates.
Till the inquiry is completed , the immoveable property is attached and acquired by the Government of Gujarat as there has been violations of Gujarat stamp duty as well as violations of provisions of the Income tax. They have violated also the stay of the Revenue of Government of Gujarat at the time GTB created charge in August 1998 which becomes criminal offence.
I most humbly request you to take up the present issue at lightining speed by arranging for protection as well as accomodation as referred in my separate email.
THANKING YOU.
YOURS SINCERELY,
PANKAJ S MODY
Criminal cases filed by OBC in GTB as reported on 3-1-2005 :-
http://pib.nic.in/release/release.asp?relid=6221
Oriental Bank of Commerce (OBC) in its due diligence exercise after the amalgamation of the erstwhile Global Trust Bank Ltd. (EGTB) has come across cases of borrowal accounts where serious financial improprieties have been observed. Internal investigations have revealed that the Bank has taken high credit exposures in certain accounts even exceeding exposure norms prescribed by Reserve Bank of India. High degree of imprudence in exercise of sanctioning powers have been observed where the bank appears to have abetted certain group of borrowers to siphon off funds through banking channel. The conduct of most of these accounts reveal that deliberate attempts have been made to camouflage the position of NPAs by making fresh sanctions in sister/allied concerns including some front companies.
On the basis of internal investigation OBC has filed criminal complaints with the CBI in the following cases :
( i) In the case of M/s Unitel Software Ltd. for having caused wrongful loss to the tune of Rs. 676.79 lakhs to the bank in the matter of sanction, disbursal and utilization of the credit facilities. The CBI Mumbai has registered a regular case under Section 120-B read with Section 409 and 420 of the Indian Penal Code vide case No. 1/C/28/2004-BS&FC/LO.
(ii) In the case of Shri Ashok Advani of M/s. Business India Publications, Mumbai, the CBI has registered a regular case No. 1/C/33-2004/BS&FC/LO under Section 120-B read with Section 409 and 420 IPC against Shri Ashok Advani and unnamed officials of the bank for cheating the bank to the tune of Rs. 15 crores by obtaining credit facilities on the basis of misrepresentation. It was falsely mentioned in the process note that the account of M/s Business India was a new one, whereas Business India was banking with erstwhile GTB since 1994 and had defaulted in payment of credit facilities sanctioned earlier.
(iii) In the case of M/s Petro Energy Products Co. Ltd. (PEPCO), the Company cheated the erstwhile GTB to the tune of Rs. 78.41 crores at Bandra, Mumbai Branch and Rs. 23.15 crores at the Chennai Branch. CBI has registered a PE at Mumbai against M/s PEPCO and unnamed bank officials vide case No. 1/C/31/2004-BS&FC/LO.
(iv) In the case of M/s. Shonk Technologies International Ltd. (STIL), a wrongful loss to the tune of Rs. 38.49 crores was caused to the erstwhile GTB on the basis of misrepresentations and diversion the funds for purposes other than for which the loan was sanctioned. CBI has registered a PE vide case No.1/ C/30/2004-BS&FC/LO.
(v) In the case of M/s Pearl Distilleries Ltd., CBI has registered a complaint at Bangalore for having caused wrongful loss of Rs. 10.28 crores to the bank in the sanction and disbursal and utilization of credit facilities vide case No. 1/C/32/2004-BS&FC/LO.
Some other cases are also being examined and it is likely that OBC will lodge further complaints with CBI in due course.
posted by mody at 8:24 AM
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