The Central Bureau of Investigation (CBI) has successfully arrested Surender Kumar, who had been declared a Proclaimed Offender (PO) and was absconding in connection with a bank fraud case.
Case Background
On March 23, 2021, the CBI registered a case based on a complaint by the Assistant General Manager (AGM) of the Stressed Asset Management Branch (SAMB) of Bank of Baroda. The complaint alleged that the directors and guarantors of a private company, along with unknown public servants and private individuals, committed fraud between 2009 and 2017. This fraud amounted to approximately Rs. 21.21 crore and involved loan accounts with Bank of Baroda and Standard Chartered Bank.
The Investigation and Charges
The investigation revealed that the private company and its associates diverted funds and engaged in fraudulent activities. On December 29, 2022, the CBI filed a chargesheet against eight accused individuals, including Surender Kumar, who was absconding at the time. Surender Kumar played a key role in the conspiracy, submitting a forged Letter of Credit (LC) to the bank and transferring the funds to his two associated firms.
Absconding from Law
Surender Kumar avoided both the investigation and court proceedings. As a result, the court issued proceedings under Sections 82 and 83 of the Criminal Procedure Code (Cr.PC), which led to him being declared a Proclaimed Offender on August 25, 2023. Following this, a standing warrant was issued by the Special Judicial Magistrate, CBI, Ghaziabad.
The Arrest
On September 24, 2024, acting on the standing warrant, a CBI team tracked and apprehended Surender Kumar in Kamla Nagar, Delhi. He was immediately produced before the Special Judicial Magistrate, CBI, Ghaziabad, who ordered that he be placed in judicial custody for three days, up until September 27, 2024.
Previous Arrests in the Same Case
This is not the first arrest in connection with this case. Another accused, Mohit Shah, who was also declared a Proclaimed Offender, was apprehended by the CBI on July 24, 2024. He is currently in judicial custody.
Ongoing Investigation
The investigation into this large-scale bank fraud continues as the CBI works to uncover further details and bring all responsible parties to justice. This arrest marks a significant step in addressing bank fraud cases in India and highlights the CBI’s commitment to apprehending offenders and recovering lost funds. Stay tuned for further updates as the case progresses.
