The bribe was demanded in exchange for deferring the possession of the complainant’s mortgaged property under the SARFAESI Act.
FinTech BizNews Service
Mumbai, 11 December, 2024: The Central Bureau of Investigation (CBI) has arrested a Panel Advocate of Indian Bank, Kolhapur (Maharashtra) for demanding and accepting a bribe of Rs1.70 lakh from the complainant. On December 10, 2024, the CBI registered a case based on a complaint against the accused, a Panel Advocate of Indian Bank residing in Ichalkaranji, Maharashtra, as per the press release issued by the CBI today.
The allegations against the accused stated that he had demanded a bribe of Rs. 2.5 lakh from the complainant and later negotiated it down to Rs. 1.80 lakh. This bribe was demanded in exchange for deferring the possession of the complainant’s mortgaged property under the SARFAESI Act.
The complainant had mortgaged the property to the bank for a loan of Rs. 5.5 crore, which had subsequently turned into a Non-Performing Asset (NPA).After further negotiations, the accused agreed to reduce the bribe amount to Rs. 1.70 lakh. Acting on the information, the CBI laid a trap and the accused was apprehended red-handed at his office while demanding and accepting the bribe amount of Rs. 1.70 lakh from the complainant.CBI conducted searches at the residential and official premises of the accused in Ichalkaranji, Maharashtra, which led to the recovery of incriminating documents. The accused will be produced before the Hon'ble District Judge-1, Ichalkaranji, Kolhapur (Maharashtra) on December 11, 2024.The investigation is ongoing.
