CBI arrests 2 Ratnakar Bank officials in case of bribery of Rs 30 lakh

06:20 PM Nov 19, 2021 | PTI |

The CBI has arrested a regional head and a recovery head of Ratnakar Bank from Ahmedabad and Pune respectively for alleged bribery of Rs 30 lakh in valuation of a property, officials said on Friday.


The arrested were Nimesh Manger, Regional Head, Agro Division, Ratnakar Bank Ltd., Ahmedabad and Saurabh Bhasin, Recovery Head, Pune, they said.

It is alleged that they had placed a demand for Rs 1 crore bribe to issue a valuation certificate to the complainant who had intimated the CBI about their nefarious demands, they said.

”It was further alleged that the complainant along with his 12 family members applied for agri term loan under the Development of Commercial Horticulture through Production and Post Harvest Management of Horticulture Scheme of National Horticulture Board, in which government give subsidy at 50 per cent of the total project cost limited to Rs 56 Lakh for each project,” CBI Spokesperson R C Joshi said.

Joshi said due to non-availability of subsidy, the agri term loan of the complainant and his family members became non-performing asset (NPA) and for availing subsidy, a valuation certificate for mortgaged properties was required.


After negotiations, the bank officials reduced their demand to Rs 30 lakh, he said.

”CBI laid a trap and caught the Regional Head, Ratnakar Bank Ltd, Ahmedabad for demanding and accepting bribe of Rs 30 Lakh. Later on, the Recovery Head, Ratnakar Bank Ltd., Pune was also caught,” Joshi said.

The CBI carried out searches at five locations, including Ahmedabad, Pune and Delhi, covering office and residential premises of both the accused, he said.


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