The CBI on Thursday filed a chargesheet before a Special Court against the then director of a private telecom company, six former top officials of the State Bank of India and four ex-officials of the Guj Info Petro ltd for allegedly causing a loss of Rs 126.40 crore to three major banks.
In a chargesheet filed before the Special Court on the basis of investigations it carried out on a complaint it had received from a consortium of banks, the CBI booked Sunil S Kakkad, Director of Messrs. Click Telecom Pvt. ltd, at least six former senior officers of SBI and four ex-officials of the Guj Info Petro ltd for allegedly committing a fraud on SBI, Vijaya Bank & Canara Bank and thereby causing a loss of Rs 126.40 crore to the three banks.
The chargesheeted bank officials included, include former SBI Ahmedabad regional head Kaushik Bagchi; ex-DGM in Baroda, Rajeev Sadashiv Dahat; former member of SBI Ahmedabad’s Mid Corporate Credit Committee member Sanjiva K Prasad; and a senior credit analyst at SBI’s Ahmedabad Overseas Branch, Deepa Juthani.
In addition, the chargesheet has named Vinod Kumar Sharma, former CEO, Gujarat Info Petro ltd. and three more officials — NK Goyal, Dinesh P Jani and Bharat P Gajjar — as the other main accused in the case.
During the investigation conducted by it on the basis of a complaint received from a consortium of banks made under Section u/s. 120-B r/w 420, 467, 468, 471 of IPC against Kakkad, the CBI found that the private telecom company had been allegedly sanctioned several Credit Facilities which include Cash Credit, Term loan & Non Fund Based limits (lCs) to the tune of Rs 126 crore
According to the chargesheet, Kakkad had taken over this company, from the earlier promoters.
After his company had won the bid for launching of BSNl VVOBB (Voice and Video over Broad Band) project in the Southern & Eastern Zones of the country, Kakkad allegedly inflated the project costs to obtain huge funds from the banks. With the actual supply of machinery, letters of Credit were opened favouring associate companies. These lCs were allegedly discounted and funds siphoned off.
The CBI had arrested Kakkad on May 5 during the course of the investigation of the case.