New Delhi: The CBI has registered a case against a branch manager of erstwhile State Bank of Mysore for allegedly allowing a private company to siphon off funds worth Rs 14 crore of a public sector undertaking through forged documents.
CBI sources said N N Rajendra Kumar, the then Additional General Manager of State Bank of Mysore, allegedly entered into a criminal conspiracy with unknown persons allowing closure of four fixed deposits (FDs) of Rs 14.95 crore belonging to Dr Ambedkar Development Corporation Limited (ADCL), a PSU under Karnataka government.
They said Kumar, allowed pre-closure of these FDs by taking fake and forged letters purportedly issued by ADCL.
The proceeds from the pre-closed FDs were allegedly further transferred to multiple accounts held in the names of shell companies.
During the initial probe, the CBI found that auditor of Pirgal Group of companies had allegedly created dummy accounts and created four shell companies in which he had made his office boys as the directors of these companies.
The agency found that funds were transferred to these four shell companies.
The sources said agency carried out searches at six locations in Karnataka and seized phones, laptops from the premises of these accused.