Chennai: A former manager of the Canara Bank is being probed by sleuths from the CBI for allegedly disbursing Rs 4.77 crore as loan amount without proper documentation to 67 people between 2014 and 2016 and diverting the same for his personal use.
The anti-corruption branch of the CBI, Chennai has registered a case under the Prevention of Corruption Act against C.D. Rathinam, former branch manager of Canara Bank, Tamil Nadu pollution control board branch, Guindy and a person named T.R. Saravanan, proprietor of Saravana Garments in Thirumazhisai near Chennai, who acted as the agent of the bank manager.
Rathinam used Saravanan as a middleman who brought in persons to show as borrowers and loans were disbursed under micro, small and medium categories. While sanctioning the loans, the guidelines prescribed were not complied with and no assets were created. The loan proceeds suffered from quick mortality and accounts slipped into non-performing assets, CBI notes.
In the complaint given by the circle office of the bank, it was noted that Rathinam took advantage of being the only credit manager of the bank and diverted the loan amount for his personal use with the help of the middleman Saravanan. He had not followed the lending procedure and thus committed fraud and irregularity, said the complaint.
Vellore tax consultant under CBI scanner
A Vellore-based tax consu-ltant is under CBI scanner for helping 3,213 salaried people to get income tax refunds totalling over Rs 84 crore from the I-T department by fraudulent methods during last two financial years. CBI believe that A Kumaresan of Walajapet in Vellore, misused his access to the NSDL network as an agent and with the help of staff in the income-tax department had ‘helped’ tax assesses to under-report income.
By inflating the claim of deduction, he was able to get the assessees the entire amount deducted from their salaries as TDS.
According to data retrieved from the computers of tax consultant, beneficiaries include 1,055 employees of BSNL, 164 employees of Nokia and 1,994 others.
All these persons had claimed false refund with the help Kumaresan and it caused pecuniary loss to the government of India, the CBI said in the FIR.
