Bank loan

Maha government not allowing CBI to investigate Rs 13k-cr bank loan fraud: Shelar

On Wednesday, BJP MP Ashish Shelar alleged in the Maharashtra Legislative Assembly that various companies had duped nationalized state banks out of Rs 13,043 crore, but the Maha Vikas Aghadi coalition government did not has not authorized the CBI to investigate these matters.

After these banks approached the central agency, the agency sought permission from the state government to conduct an investigation, he said.

“Why isn’t the government giving permission,” said Shelar, a former minister of state.

Interior Minister Dilip Walse-Patil, who was present in the House, said the Central Bureau of Investigation will be allowed to investigate these ongoing cases and others like them.

The BJP MP said various private companies borrowed large sums from 12 major banks in the state and defrauded them.

Bank of Baroda, Punjab National Bank, State Bank of India and Union Bank of India have filed complaints with the CBI, he added.

(Only the title and image of this report may have been edited by Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

Dear reader,

Business Standard has always endeavored to provide up-to-date information and commentary on developments that matter to you and that have wider political and economic implications for the country and the world. Your constant encouragement and feedback on how to improve our offering has only strengthened our resolve and commitment to these ideals. Even in these challenging times stemming from Covid-19, we remain committed to keeping you informed and updated with credible news, authoritative opinions and incisive commentary on relevant topical issues.
However, we have a request.

As we battle the economic impact of the pandemic, we need your support even more so that we can continue to bring you more great content. Our subscription model has received an encouraging response from many of you who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of bringing you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practice the journalism we are committed to.

Support quality journalism and subscribe to Business Standard.

digital editor