CBI arrests eight accused including CEO of LIC Housing Finance Ltd., other senior officers of LIC & Banks and CMD of Mumbai-based private company in a bribery case
Press Release
The Central Bureau of Investigation has arrested Chief Executive Officer, LIC Housing Finance Ltd., Mumbai; Secretary (Investment), LIC, Mumbai; General Manager, Bank of India, Mumbai; Director (Chartered Accountant), Central Bank of India, New Delhi; DGM, Punjab National Bank, New Delhi; Chairman & Managing Director and two other officials of a Mumbai-based private financial services company in a bribery case.
The CBI has busted a racket wherein a private financial services company, its CMD and other associates were allegedly bribing senior officials of public sector banks and financial institutions for facilitating large scale corporate loans. They were also gathering confidential business information from financial institutions. Officers of top management and middle management of various public sector banks and financial institutions viz. Bank of India, Central Bank of India, Punjab National Bank, LIC & LIC Housing Finance Ltd were receiving illegal gratifications from the private financial services company who were acting as mediators and facilitators for corporate loans and other facilities from financial institutions. Searches were conducted at various locations in Mumbai,
In this regard, five separate cases have been registered and investigation is in progress.
Source: - CBI website
