CBI raids Bank of Baroda branches over Rs6,172 cr 'black money' transfer
12 October 2015
The Central Bureau of Investigation (CBI) today carried out searches at Bank of Baroda (BoB) branches in New Delhi in connection with the alleged transfer of Rs6,172 crore black money to Hong Kong.
The raids were mainly conducted at a BoB's Ashok Vihar branch in North Delhi, which is dealing with forex in connection with "cash" deposits of Rs6,172 crore, which were allegedly later "sent to Hong Kong".
Searches were also carried out at private properties in connection with the shady remittances, which were spotted in the audit report of the bank, CBI sources said, adding that the raids are still in progress.
Accounts of about 60 companies opened at the Ashok Vihar branch of the bank are under scanner, sources said.
The Enforcement Directorate has also registered a case and carried out searches in this connection.
The raids come a day after Congress spokesperson RPN Singh on Friday said that "black money" amounting to Rs6,172 crore had been sent out of the country to get commodities such as pulses, rice and cashewnuts.
Singh said the money was deposited as advance in 59 accounts of the bank and three of the Indian companies were not traceable on the addresses mentioned by them, He had demanded an independent probe into the "scam".
Singh said the government was aware of the "scam" as the bank had conducted an inquiry and asked why no FIR had been registered.
He had alleged that bank officials had the "patronage" of finance ministry officials and asked the government to come clean on the issue.
"This government tells us that it had brought Rs4,000 crore of black money back. But in one-and-a-half years, Rs6,172 crore has gone to Hong Kong....Money is going out and that too without documents," Singh had alleged.