Central Bureau of Investigation arrests ten in Rs 9 cr fraud case

The Central Bureau of Investigation (CBI) has arrested two directors of a Mumbai-based private firm and eight officials, including a branch head of Punjab National Bank (PNB), in a Rs 9 crore fraud case.

Those arrested have been identified as Ishwardas Agarwal and Aditya Rasiwasia, both directors of M/s Chandri Paper & Allied Products Pvt Ltd, while the eight officials of PNB are: Sanjay Kumar Prasad, then AGM/branch head (presently DGM, PNB, New Delhi), single window operators Amar Sukhdev Jadhav, Manoj Hanumant Kharat and Sagar Dattaram Sawant, foreign exchange department officials Bechu Bansi Tiwari, Yashwant Trimbak Joshi, Prafful Prakash Sawant, and auditor Mohinder Kumar Sharma.

The CBI had registered a case on March 9, 2018, against the accused persons on a complaint received from PNB. "The case was registered on allegations of defrauding the bank to the tune of around Rs 9.09 crore in the matter of dishonest and fraudulent issuance of two letters of undertakings aggregating to the said amount, in favour of State Bank of India (SBI), Antwerp, Belgium," said a CBI official.