Bank official, 5 others booked for depositing Rs 12.84 cr banned notes

Tribune News Service

New Delhi, January 13

Anti-corruption federal probe agency CBI today said it had booked the executive manager of Jammu & Kashmir (J&K) Bank, three firm proprietors and two persons for depositing Rs 12.84 crore in banned currency after over four years of demonetisation exercise, which was later transferred to different accounts through net banking as legitimate money.

Officials in the CBI said, on the basis of “source information”, which was received on December 10 last year, the agency had filed an FIR saying Rahul Chaudhary and Dushyant Chaudhary were operating accounts of Shiva Trading Company, Divyanshi Sales Corporation and Shyama Trading company in the J&K Bank’s Ghaziabad branch.

Taking advantage of their proximity with executive manager Netar Sabharwar, the Chaudhary duo were allegedly operating the accounts in place of their proprietors, who are also named accused in the FIR, the officials said.

The CBI has alleged that the accused duo in connivance with proprietors — Pankaj Kumar of Shiva Trading, Vikas Rathi of Divyanshi Sales and Ghanshyam Patel of Shyama Trading — and Sabharwar changed registered phone numbers in the companies’ accounts for SMS alert service to be able to use them for fund transfers, the CBI said in the FIR.

After the government declared Rs 1,000 and old Rs 500 notes as illegal tender on November 8, 2016, Sabharwar allegedly allowed Rahul and Dushyant Chaudhary to make Rs 12.84 crore cash deposit in the three companies’ accounts in violation of bank norms and RBI instructions related to cash deposits, it said, adding that using the changed phone numbers, the duo transferred the amount to various bank accounts through Real Time Gross Settlement (RTGS).

Demonetisation fruad

• Officials in the CBI said, on the basis of “source information”, which was received on December 10 last year, the agency had filed an FIR saying Rahul Chaudhary and Dushyant Chaudhary were operating accounts of Shiva Trading Company, Divyanshi Sales Corporation and Shyama Trading company in the J&K Bank’s Ghaziabad branch.
• Taking advantage of their proximity with executive manager Netar Sabharwar, the Chaudhary duo were allegedly operating the accounts in place of their proprietors, who are also named accused in the FIR, the officials said.