CBI conducts searches against Reliance Telecom, ex-directors in SBI fraud case
New Delhi, Mar 26 (PTI): The CBI has conducted searches at the residences of two former directors of Reliance Telecom and the company office after registering an FIR against them in connection with an alleged fraud of Rs 114.98 crore in State Bank of India, officials said on Thursday.
"The Central Bureau of Investigation (CBI) has registered a case against M/s. Reliance Telecom Ltd., Sh. Satish Seth (then Director), Sh. Gautam B Doshi (then Director), unknown public servants and unknown others for offences of conspiracy, cheating under IPC and criminal misconduct and abuse of official position under the Prevention of Corruption Act, 1988," a CBI spokesperson said in a statement here.
The agency acted on a complaint from SBI about it being defrauded and suffering a wrongful loss of Rs 114.98 crore, she said.
"SBI was a member of the consortium of 11 banks which had sanctioned a total of Rs 735 crore Term Loan facility to Reliance Telecom Ltd," the CBI said.
The agency has conducted searches in Mumbai at the residence of Satish Seth, Gautam B. Doshi and the registered office of Reliance Telecom Ltd. Various documents connected with the loan transactions have been recovered, the spokesperson said.
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Bagalkot: Siddaramaiah made false promises to farmers, alleges B.Y. Vijayendra
Bagalkot: BJP state president B.Y. Vijayendra on Tuesday accused Chief Minister Siddaramaiah of making false promises to farmers affected by the raising of the Almatti dam height, and sought clarity on compensation and fund allocation, The New Indian Express reported.
Addressing media persons while campaigning for the bypolls in Bagalkot city, Vijayendra questioned the government’s announcement of convening a special cabinet session to address farmers’ issues.
“How much funds have actually been released? The government should explain the status of the Upper Krishna Project,” he said.
He further said that the government had, around four months ago, promised compensation of Rs 40 lakh per acre for irrigated land and Rs 30 lakh per acre for dry land to farmers likely to lose their land.
Vijayendra demanded that the government disclose how much of the promised compensation has been disbursed so far.
