While the PMU bank sht down crted fluter amongst its patron, here comes another complaint against Kotak Mahindra Bank. The complaint was filed by Dr. Santosh Kumar Bagla against Kotak Mahindra Bank MD and CEO Uday Kotak including other officials. Subsequently, Prime Minister Office (PMO) has directed the Finance Ministry of India to look into the matter in connection with the alleged fraud, conspiracy and forgery.
According to the complainant in the Abinet website, the top brass in the bank entered into a criminal conspiracy with one Virendra Kumar Sharma who had leased his property to one Company M/s. Cogent EMR Solutions Limited for long lease Later, Kotak Mahindra Bank committed a loan fraud along with Virendra Kumar in which his son Bhupendra was falsely implicated.
Bhupendra was later arrested in the false and frivolous case despite having anticipatory bail. The Magistrate on his arrest issued notice to Regional Manager of Kotak to clarify about the loan was given as unsecured Loan or Secured Loan the next day the Advocates of Kotak Mahindra appeared and confirmed that the loan of 50 lacs was given as ‘ Unsecured ‘. And to the Company Cogent Ventures (India) Limited and not to Bhupendra Bagla. On knowing this facts the court granted the bail order and released Bhupendra Bagla immediately.
