CBI seizes cash and blank cheques in AAP MLA's house raid
text_fields
The Central Bureau of Investigation (CBI) raided AAP MLA Jaswant Singh's properties in Malerkotla, Punjab in connection with a bank loan fraud case and seized 90 blank cheques signed by different people and Rs 16.57 lakh in cash.
Around 88 foreign currency notes, property papers, and other incriminated documents were discovered at the house. The CBI raided the properties of Balwant Singh, Jaswant Singh, Kulwant Singh, Tejinder Singh, and a private firm Tara Health Foods Ltd.
The raids were conducted based on a complaint filed by the Bank of India against ara Corporation Ltd (renamed Malaudh Agro Ltd), Gaunspura, Malerkotla. Then directors and guarantors of the private company and several public servants are also mentioned in the complaint.
Tara Corporation Ltd was sanctioned loans at four intervals from 2011 to 2014 by the bank. Through its directors, the firm had concealed hypothecated stock and diverted booked debts with malafide and dishonest intention.
The bank could not inspect the stocks and suffered an alleged loss of Rs 40.92 crore. The account was classified as NPA on March 31, 2014. On 2 September 2018, the account was declared as fraud.