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Biggest housing loan scam: bankers arrested

Biggest housing loan scam: bankers arrested

CBI had arrested LIC Housing Finance CEO Ramchandran Nair, Naresh K Chopra, Secretary (Investment), LIC, R N Tayal, General Manager of Bank of India (Delhi), Maninder Singh Johar, Director of Central Bank of India, and Venkoba Gujjal, Deputy GM of Punjab National Bank (Delhi) for allegedly sanctioning loans in return for bribes.

CBI claims that 17 companies that allegedly benefited from the scam include Pashmina Mantri Realty, Sigrun, Entertainment World, Indore City Treasure, Lavasa, Ashapura Minechem, BGR Energy, OPG Group, Krishna Group, Suzlon, MRMGH, MBDB, Gold Sukha Project, JP Group, Adani group, J P Hydro, JSW Power, Ralligear, D B Realty, Pantaloons, Adalite and MTech.

Union Finance Minister Pranab Mukherjee on Thursday directed all public sector banks (PSBs), financial institutions and insurance companies to look into their exposures to the various companies mentioned in the CBI application filed in the court in regard to the housing loan scam.

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