CBI arrests absconding MD of private firm

New Delhi, May 23, 2014: The Central Bureau of Investigation has arrested an absconding Managing Director of Kanpur based private firm in a case relating to alleged withdrawal of Rs. 3,72,55,084 from Punjab National Bank on the basis of forged Court order.

The absconder (a resident of Kanpur) was residing at Roseland Residency Pimple Saudagar Pune with his family and absconding since investigation. A chargesheet against him and other accused (then Manager, PNB, Nayaganj, Kanpur) was filed for withdrawing of Rs.3,72,55,084 from Bank on forged court order. After taking transit remand, he brought to Lucknow from Pune and produced before the Magistrate at Lucknow. The Court sent him to judicial custody.

 CBI had registered two cases on 18.01.2005 in pursuance of notification issued by Govt. of India on the consent of Uttar Pradesh Govt and took up the investigation of cases of PS- Harbans Mohal, Kanpur Nagar (U.P).

It was alleged that an amount of Rs. 3,72,55,084 was attached and transferred to the Punjab National Bank, Nayaganj, Kanpur from Punjab National Bank, High Value Branch, Lucknow as per the orders of the Additional District Judge-VI, Kanpur Nagar in Izrawad (Execution case) which was pending in the said court.

The said amount was deposited in the joint current account at PNB Nayaganj Kanpur in the names of Kanpur based private firm and UP Awas Evam Vikas Parishad. Subsequently the accused withdrew the entire amount by opening a current account on the basis of a forged court order purported to have been passed by the court of ADJ-VI, Kanpur Nagar.

After investigation of both the cases, a combined charge sheet was filed on 30.11.2006 against the then Managing Director of Kanpur based firm and  the then Chief Manager, Punjab National Bank (PNB), Nayaganj, Kanpur, UP (now compulsorily retired) U/s 120-B r/w420, 468, 471 IPC and 13(2) r/w 13(1)(d) of PC Act, 1988 & substantive offences in the Court of Special Judge (Central) for CBI cases at Lucknow. The trial of the case is under progress against then Chief Manager of Bank whereas, then Managing Director has absconded during investigation/trial. Subsequently, he was declared Proclaimed Offender by the Court of Special Judicial Magistrate, CBI cases, Lucknow on 05.09.2006 and a permanent warrant of arrest was issued against him.

After sincere efforts, CBI traced the absconding accused and arrested him.