Bank loan

CBI arrests son of former Assam CM in bank loan default case

On November 7, the Central Bureau of Investigation (CBI) arrested Ashok Saikia, the eldest son of former Chief Minister of Assam Hiteswar Saikia, in a bank loan default case.

The CBI team arrested Saikia, the brother of the leader of the Legislative Party of Congress, Debabrata Saikia, from his residence in Sarumataria de Guwahati in a case related to a bank loan of Rs 9.37 lakh taken out from the Cooperative Bank of Guwahati. State of Assam for Agriculture and Rural Development (ASCARDB) in 1996.

The case was initially registered at the Paltan Bazar police station in Guwahati in 1998, then transferred to the CBI in 2001 after two complaints were lodged with the investigative agency.

Debabrata Saikia, also leader of the opposition in the assembly, told the media that her brother was the victim of a bank loan which he had already repaid to the bank a long time ago and that he would certainly get justice in court .

The Opposition Congress issued a letter from ASCARDB on November 7 in which it was shown that Saikia had used the bank’s Rs 9,37,701 loan in 1996 on business but by 2015 he had paid the dues and HN Borah, then managing director of the bank, had, in a letter of October 10, 2015, indicated that the loan had been liquidated as part of a settlement agreement.