CBI conducts searches at 5 locations in alleged bribery case worth Rs 30 lakhs

New Delhi [India], November 19 (ANI): Searches were conducted at five locations including Ahmedabad, Pune, Delhi at the office and residential premises of two senior RBL officials in an alleged bribery case of Rs 30 lakh, informed an official statement issued by the Central Bureau of Investigation (CBI) on Friday.
According to the statement issued by CBI, a case was registered on a complaint against the accused (RBL officials) on the allegations of demanding undue advantage of Rs 1 Crore for issuing a Valuation Certificate.
It was further alleged that the complainant along with his 12 family members applied for Agri Term Loan under the Development of Commercial Horticulture through Production and Post Harvest Management of Horticulture Scheme, in which government give a subsidy of 50 per cent of the total project cost limited to Rs 56 lakh for each project, the statement said.
"Due to non-availability of subsidy, all the Agri term loan of the complainant and his family members became Non-Performing Asset (NPA) and for availing Subsidy, a Valuation Certificate for mortgaged properties was required, for which the bribe was settled to Rs 30 Lakh on negotiation," it added.
Further, CBI laid a trap and caught the Regional Head of Ratnakar Bank Ltd, Ahmedabad for demanding and accepting a bribe of Rs 30 lakhs. Later on, the Recovery Head, Ratnakar Bank Ltd Pune was also caught.
Both the arrested accused are being produced on Friday before the Competent Court, the statement added. (ANI)