Charges framed against bank manager, 4 others

PANCHKULA: The special CBI court here on Thursday framed charges against five people, including a bank manager, in Rs 30 crore Dena Bank loan fraud case.

Charges have been framed under Section 13 of the Prevention of Corruption Act for criminal misconduct, besides Section 420 (cheating and fraud) and 120 B of criminal conspiracy.

The trial will begin on May 19. The accused included Vijay Kumar Gupta and Kamleshwar Sharma, directors of Jind-based HRM Export Private Limited that deals in rice export, the then branch manager of Dena Bank in Rohtak, Rajbir Singh Phogat, chartered accountant Sanjeev Krishan and then accountant of HRM Export Private Limited Pankaj Aggarwal.

The complaint in the case was filed by then regional manager of Dena Bank Charan Singh Meena, who was posted at the regional office in Sector 11 in Panchkula, in 2013 following which the case was registered by CBI.

According to the CBI chargesheet, Gupta and Sharma approached the Rohtak branch of the Dena bank in 2011 for working capital facility of Rs 30 crore. Since 2008, the company was enjoying a credit facility of Rs 17.5 crore from the Bank of India in New Delhi.

The Rohtak branch of the bank took over the credit facility and enhanced it to Rs 30 crore. The company had hypothecated stocks and book debts as primary security and 11 immovable properties as collateral securities, which were later found inflated.

The reason given for enhancement of loan was expansion of business but the entire amount of Rs 30 crore was utilised within a short span of 12 days for purchasing land in Bhopal. Later on November 11, 2011, the HRM exports was declared non-performing asset (NPA) with Rs 29.94 crore outstanding amount.