A Delhi court has reprimanded the Central Bureau of Investigation (CBI) for failing to present the crime file in a high-profile bank fraud case involving C G Power and Industrial Solutions and its former promoter, Gautam Thapar. The case concerns an alleged ₹2,435 crore fraud that affected 12 banks.
In a strong-worded order dated February 10, Special Judge Sanjeev Aggarwal of Rouse Avenue Court accused the investigating agency of trying to conceal crucial information. The judge stated, “It appears that the investigating agency is attempting to hide something from the court, preventing the truth from coming out.” The court has directed the CBI to ensure the crime file is produced at the next hearing on February 21.
CBI Fails to Produce Crime File Despite Court Orders
Earlier, the court had asked the CBI to present the crime file and case diaries by January 22. The agency submitted the case diaries on February 1 but sought exemption from producing the crime file. The judge criticized this action, stating that without the crime file, the court cannot determine whether further investigation is needed.
The court remarked, “Despite clear directions in the order dated 03.02.2025, the CBI has failed to produce the crime files. Without them, the court is handicapped and cannot assess if key aspects have been overlooked in the investigation.”
Background of the Case
The CBI filed a chargesheet in 2023 after a 19-month investigation. The case was based on a complaint by the State Bank of India (SBI), which had an exposure of 12.81% in the fraud amount on behalf of a consortium of 11 other banks. Yes Bank had the second-highest exposure at 11.75%.
The CBI alleged that huge amounts of bank loans were diverted to related parties through fraudulent transactions. The accused allegedly secured multiple loans using the same assets as collateral, failed to disclose existing borrowings, and falsified financial records.
Court Questions Quality of Investigation
The judge noted that a prima facie reading of the chargesheets indicated that the investigation was conducted in a careless manner. He pointed out that an officer of sub-inspector rank led the probe, which violates Section 17 of the Prevention of Corruption Act.
Expressing concerns over the CBI’s defiance, the court stated, “Any concealment or non-production of the crime file raises suspicion that the agency is trying to hide something, especially in a case involving a ₹2,435 crore fraud affecting public money.”
The court also warned that the CBI’s failure to comply with its orders suggested “clear defiance and disregard for the judiciary,” which it called a matter of serious concern. The next hearing is scheduled for February 21, where the agency is expected to submit the crime file.
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