By PTI
NEW DELHI: The CBI on Tuesday performed searches on the premises of former J&Ok Bank chairman Haseeb Drabu and another former high officers in reference to the acquisition of the financial institution’s workplace constructing in Mumbai in 2010, and claimed to have recovered “incriminating documents”.
The searches had been performed at eight areas in Mumbai, Srinagar and Jammu after the company registered an FIR within the buy of the Akruti Gold Building for round Rs 180 crore by the financial institution for its built-in workplace in Mumbai on November 11 final 12 months, officers mentioned.
The FIR was registered following a reference from the Jammu and Kashmir authorities, they mentioned.
The premises of then financial institution administrators M I Shahdad and Vikrant Kuthiala, and former govt director A Ok Mehta had been additionally searched on Tuesday, the officers mentioned. This is the second search on this connection. The 4 had been additionally members of the property committee of the financial institution, they mentioned.
“The Central Bureau of Investigation is today conducting searches at eight locations including at Jammu, Srinagar and Mumbai at the premises of then members of Estate Committee of the Board of Directors including then chairman of J&K Bank, then directors, then executive director. Incriminating documents, articles and electronic evidences, several bank account details and bank locker keys have been recovered during searches,” CBI spokesperson RC Joshi mentioned.
The CBI has alleged that the financial institution had entered right into a deal for its department workplace on the Bandra Kurla Complex (BKC) with Akruti Gold at a a lot larger price than provided by different shortlisted builders inflicting a lack of over Rs 100 crore to the financial institution.
The case was earlier probed by the Anti-corruption Branch of the Jammu and Kashmir Police, which had registered an FIR following a preliminary inquiry.
The inquiry report, now a part of the FIR, had mentioned an commercial was issued by the J&Ok Bank on November 6, 2008, inviting provides for outright sale of built-in workplace premises at Bandra Kurla, Mumbai, requiring 20,000 sqft house.
Twenty-five builders had responded to the commercial which had been opened by the committee shaped for the aim and out of the provides obtained, eight properties Ashapura Builders (Hallmark Business Plaza), Topaz Akruti, Crescenzo (BKC), Platin BKC, Naman Centre, Golden Homeland companies (Wockhardt), Windsor and KRC Towers had been shortlisted.
Of these eight, the charges provided by Ashapura Builders had been the bottom at Rs 25,000 per sqft, Ashapura Builders on July 28, 2009, made a suggestion for its constructing’s third flooring of 30,000 sqft constructed up space at Rs 22,500 per sqft chargeable space.
“The application was processed and submitted to then chairman to take a decision but no decision was taken regarding finalisation of contract with Ashapura Builders’ owners. A committee was constituted with approval of the chairman to take a view with regard to the offer received. The committee so constituted has done nothing in respect of offers received,” the FIR had alleged.
The financial institution on the directions of its company headquarters revealed one other commercial on January 14, 2010, searching for workplace house 25,000-30,000 sqft and residential flats in or round Andheri (15 single BHK 600-800 sqft and 10 double BHK 1000-1200 sqft) it mentioned.
The provide was responded to by 23 builders. “Ashapura Builders again quoted the lowest rate Rs 25,000 per sqft It has been found that no heed once again was paid to the lowest rate,” the FIR alleged.
It has been discovered that within the board of administrators assembly held on february 25, 2010, the director property committee briefed board members about website inspections of the shortlisted properties performed by the property committee, it alleged.
“The members were informed that amongst the short listed properties, Akruti Goki BKC meets requirements of the bank. He further informed the members that total chargeable area of the entire building was around 42,000 sqft at Rs 26,000 per sqft which roughly works out to Rs 109 crore for the entire building and Rs 73 crore for the proposed six floors,” the FIR alleged.
It mentioned the board members allegedly gave approval to the proposal and determined that the financial institution ought to enter into negotiations with the builders for buying your entire constructing.
“Negotiations were held with Akruti Gold BKC and finally the rate was finalised at Rs 26,000 per sqft for nine floors having total chargeable area of 63,776 sqft. A letter of intent was signed with the builder and a token money of Rs 25 crore was paid to developer Vishal Techno Commerce Limited,” it alleged.
The FIR mentioned there was ample house out there with J&Ok Bank for functioning of its department at Bandra Kurla, Zonal Office and Treasury and as such there was no requirement of buying any further lodging.
“The Zonal Office Mumbai, Branch Bandra Kurla and Treasury were already functioning in the bank’s own buildings. The advertisements issued were for 20,000 sqft and 20,000-30,000 sqft respectively in response to which, the rates offered by Ashapura Builders were Rs 25,000 and Rs 22,000 a sqft,” it alleged.
The CBI alleged that as a part of a “criminal conspiracy hatched among the officers/officials of J&K Bank and the owners of Akruti Gold BKC”, officers of J&Ok Bank authorized buy of 65,065 sqft at Rs 26,000 per sqft on extremely exorbitant consideration of Rs 180.57 crore “in blatant disregard to the tendering process with consequent loss to the bank exchequer.” Their actions allegedly brought about a tentative lack of greater than Rs 100 crore to the financial institution exchequer, it mentioned.
