CBI probing Rs 5-crore fraud in Karnataka State Handicrafts Development Corporation
New Delhi: The CBI has started an investigation into alleged embezzlement of Rs 5 crore in Karnataka State Handicrafts Development Corporation (KSHDC) in connivance with an official of the State Bank of India, officials said Monday.
The CBI has registered the FIR on a complaint from the chief manager of SBI alleging that an assistant manager had opened a current account number -- 7828879815 -- of KSHDC, on its application, at Hesarghatta Road Branch.
The complaint alleged that Sateesh V Vambhashe, the then assistant manager at the bank, fraudulently opened one more account in the name of KSHDC 37830657832 under the same Customer Information File without any authorization from the KSHDC to facilitate the illegal transfer of funds.
On July 26, 2018, an inward remittance of Rs 5.01 crore came to the authentic KSHDC account from Canara Bank which was fraudulently transferred to the similar account created by Vambhashe, it alleged.
An amount of Rs 25 lakh was further transferred into a fixed deposit while the balance was transferred in 12 transactions over two months to accounts of Velohar Infra Pvt Ltd and Venture Cottage Industrial Trade Company based on purported cheques issued by KSHDC signed by their Assistant (Finance), it alleged.
The manager fraudulently issued a letter to KSHDC that fixed deposit receipt was verified and genuine and maturity amount of over Rs 5.37 crore would be paid back to them whereas in the core banking system of the bank the FD was issued for only Rs 25 lakh.
"Sateesh Vambhashe has allegedly committed falsification of accounts and colluded with KSHDC officials to unauthorisedly divert funds to the tune of Rs 4.76 crore by transferring through RTGS to different suspicious accounts," the FIR alleged.
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Pakistan ‘relaying messages’ between Iran and US for peace in West Asia: official
Lahore (PTI): Pakistan is relaying messages between Iran and the US with the aim to help de-escalate the West Asia conflict, a top government official said on Wednesday.
"We are trying to broker US-Iran peace talks and have also offered Islamabad as a venue for the purpose. But it will be possible if Iran agrees to sit at the table with America," a top official in the Shehbaz Sharif administration said on the condition of anonymity.
"At the moment, Pakistan is relaying messages between the US and Iran. Islamabad not only handed over the 15-point proposal of the US to Iran but also Tehran's demands to the Trump administration to ink a peace deal," he said.
The 15-point proposal outlines strict conditions targeting Iran’s nuclear and regional policies in exchange for major sanctions relief, he added.
Under the proposal, Iran would be required to fully dismantle its nuclear programme and commit never to pursuing nuclear weapons. All enriched nuclear material would be transferred to the International Atomic Energy Agency (IAEA) within an agreed timeframe.
Key nuclear facilities, including the Natanz Nuclear Facility, Isfahan Nuclear Technology Centre and Fordow Fuel Enrichment Plant, would be decommissioned and destroyed under the plan. The IAEA would also be granted full access to all aspects of Iran’s nuclear programme, he said, speaking about the proposal.
The proposal further calls on Iran to cease funding, directing and arming allied groups across the region, a longstanding point of contention with both Washington and Israel, he added.
In a move aimed at safeguarding global energy supplies, the plan ensures that the Strait of Hormuz will remain open as a free maritime route, preventing any disruption to international shipping.
As a final decision on Iran’s missile programme has been deferred, the proposal says any future arrangement would impose limits on the range and number of missiles, restricting their use to defensive purposes only.
In return, the United States is prepared to lift all sanctions on Iran and support the development of a civilian nuclear programme, including assistance at the Bushehr facility, the official informed.
The proposal also includes removing the so-called “snapback” mechanism, which allows for the automatic reimposition of United Nations sanctions.
The Iranian regime has hardened its stance and is seeking significant concessions from the United States if mediation efforts lead to serious negotiations, he said.
"In any talks with the US, Iran would not only demand an end to the war but concessions that are likely red lines for President Trump —guarantees against future military action, compensation for wartime losses and formal control of the Strait of Hormuz," the official said and added Iran would also refuse to negotiate any limitations to its ballistic missile programme.
Iran’s president earlier warned that stability in the region is possible only through cooperation and respect for the will of the nations.
“Today we are witnessing the awakening of the people in many countries around the world,” Masoud Pezeshkian wrote on X, claiming that people of Pakistan, Turkiye, Iraq, Lebanon, Egypt, and Arab countries are loudly expressing their rejection of the US, Israel and their crimes.
He said that Iran has also outlined a set of key counter-conditions in response to the 15-point proposal.
Iran has demanded the lifting of US-imposed economic sanctions. It rejected calls for a total halt to uranium enrichment, insisting that its nuclear programme is for peaceful purposes and falls within its sovereign rights, he added.
Another major sticking point is Iran’s defence and missile programme, which Iranian officials describe as essential for national security.
Tehran has refused to accept any proposal that would limit its missile capabilities or weaken its regional deterrence posture.
Iran is also seeking binding guarantees from Washington to ensure that any future agreement will not be abandoned unilaterally, as happened in the past, he added.
Iranian leaders have stressed the need for assurances against military escalation or regime-change efforts.
Iran also wants no presence of US forces in the Gulf and control over strategic waterways, the official added.
