The Central Bureau of Investigation (CBI) has now raised its focus to 17 companies that supposedly received loans. The investigating agency has served warning to all companies in multi-crore scam. They asked them to submit details of the loans they got as suspected beneficiaries.
Totally eight people have been arrested by the CBI. Ramchandran Nair, the Chief Executive Officer (CEO) of LIC Housing Finance, RN Tayal, General Manager of Bank of India and Venkoba Gujjal, Deputy General Manager of Punjab National Bank. Private company concerned is money scam and three of its senior-most officials; have been arrested.
In other case, Nar0esh Chopra of LIC Mumbai has been accused of receiving Rs. 16 lakes from Money Matter scam Rajesh Sharma. Chopra purportedly traded confidential information on LIC investments to the Adani Group.
Sources in LIC have told NDTV that the scammers were committed in the officers' own capacity, and no norms were violated. LIC had reported on Wednesday, All procedures were adhered to in approving the loans.
Deepak Parekh, the chairman of HDFC Bank said: People working in public sector organizations had sanctioning loans by taking money and they zeroed in on real-estate sector and certain developers who must have paid money to get loans sanctioned. The arrests came after a CBI investigation that covers 5 cities and lasted over a year.