I took money from Nagpur bank: Agarwal

Nagpur: Home Trade CEO Sanjay Agarwal has confessed that he had taken money from Nagpur District Central Cooperative Bank (NDCCB).

In his surrender statement to the court, Agarwal said he had honourable intentions of repaying all dues to the bank. Agarwal has not divulged much during the interrogation. But he has been repeating that he intends to return all dues to NDCCB and after that the case would legally boil down to a civil issue, says state CIDs DIG R Ramachandran.

About Agarwal surrendering in Nagpur instead of Mumbai, Ramachandran says: "It could be because the gilts scam was first detected in the Nagpur bank and the NDCCB case was a much-publicised one."

He claims the CID had no clue about Agarwal during the last fortnight. Cases against Agarwal and four other brokers were filed by NDCCB chairman Sunil Kedar on 25 April 2002.