The CBI has registered a case against Managing Director of the Jalgaon District Central Cooperative Bank ltd (JDCCBl) and bank’s Chopda branch Manager and Cashier in connection with the fraudulent exchange of old demonetised currencies to the tune of Rs 73.32 lakh with the currency of denomination of Rs 100 notes.
Jitendra J Deshmukh, Managing Director of JDCCBl, was allegedly in the possession of demonetised notes to the tune of Rs 73.32 lakh when the Government began to implement decision demonetising Rs 1,000 and Rs Rs 500 notes on November 9, 2016.
On November 9, 2016, Deshmukh allegedly violated the RBI guidelines to exchange unaccounted old demonetised currencies which were in his possession, aggregating to Rs 73.32 lakh with currency of Rs 100 notes available.
The bank’s Chopda branch manager D B Patil, and its cashier Ravisankar R Gujrati allegedly colluded with Deshmukh by forging the entries in the books of bank accounts.
The CBI on Thursday conducted searches at the official and residential premises of the three accused bank officials. “We have recovered of both incriminating and relevant documents including the books of accounts of Chopda Branch. Our investigation is on,” a CBI spokesperson said.
The CBI has, meanwhile, booked Deshmukh, Patil, Gujarati and some unknown persons under 120B ( conspiracy) of IPC read with sections 420 ( cheating), 468 (forgery for the purpose of cheating, 471 ( using a forged document as genuine) , 477-A ( falsification of accounts) & 13(2) r/w 13(1)(d) of Prevention of Act, 1988 and substantive offences.