CHARGESHEET: CBI files chargesheet against two officials of UCO Bank and others for cheating bank

Jalandhar, January 18, 2013: The Central Bureau of Investigation has filed a chargesheet against the then Zonal Head; the then Chief Manager (Business Head), both of Zonal office UCO Bank, Indore (Madhya Pradesh); a private firm based at Jaitpura, Dist- Dhar (M.P) and five other private persons in the Court of Special Judge for CBI Cases, Indore for cheating & causing an alleged loss of about Rs. 250 lakhs.

A case was registered on 31/01/2012 against the then Zonal Head, UCO Bank, Indore(M.P); the then AGM and the then Senior Manager both working in UCO Bank, New Palasia Branch, Indore(M.P); Empanelled lawyer of the Bank; Proprietor of a private firm of Jaitpura, Dist- Dhar (M.P) and other private persons U/s 120-B, 420, 467, 468, 471 of IPC and section 13(2) r/w 13(1)(d) of PC Act 1988. It was alleged  that the then  Zonal Head, UCO Bank, Indore; the then AGM & the then Senior Manager both working in New Palasia Branch, UCO Bank, Indore and Empanelled lawyer of the Bank entered into criminal conspiracy with Proprietor of private firm and other private persons and cheated the New Palasia Branch/Sanyogitaganj Branch, UCO Bank Indore (M.P) to the tune of about Rs 250 lakhs by way of facilitating availment of Cash Credit limit on fraudulent and dishonest submission of forged title deeds of diverted land mortgaged in the bank as collateral securities etc

The public is reminded that the above findings are based on the investigation done by CBI and evidence collected by it.  Under the Indian Law, the accused are presumed to be innocent till their guilt is finally established after a fair trial.