CBI Arrests Indian Bank’s Panel Advocate in Kolhapur for Accepting Rs 1.70 Lakh Bribe
(Judicial Quest News Network)
The Central Bureau of Investigation (CBI) has apprehended a Panel Advocate associated with Indian Bank’s Kolhapur branch for allegedly demanding and accepting a bribe of Rs 1.70 lakh from a complainant. The arrest follows a complaint lodged on December 10, 2024, detailing a series of corrupt practices by the accused, identified as a Panel Advocate for the bank.
According to the complaint, the accused, a resident of Ichalkaranji, Maharashtra, sought a bribe from the complainant in exchange for deferring the possession of a mortgaged property under the provisions of the SARFAESI (Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest) Act. The property in question had been offered as collateral for a loan of Rs 5.5 crore, which had since become a Non-Performing Asset (NPA).
Initially, the accused demanded an exorbitant sum of Rs 2.5 lakh, which was subsequently reduced to Rs 1.80 lakh after negotiations. Eventually, the bribe amount was further brought down to Rs 1.70 lakh, with the accused agreeing to accept the reduced sum for his services in postponing the bank’s action on the mortgaged property.
On the basis of this complaint, CBI officials set up a trap. The accused was caught red-handed while accepting the agreed amount of Rs 1.70 lakh from the complainant at his office in Kolhapur. Following the arrest, CBI teams conducted searches at the accused’s residential and office premises in Ichalkaranji. During the searches, incriminating documents and evidence were seized, which could provide further insights into the alleged corrupt activities.
The arrested Panel Advocate is expected to be produced before the Court of Hon’ble District Judge-1 in Ichalkaranji on December 11, 2024, for further legal proceedings.
The investigation is ongoing, with CBI officials indicating that more details may emerge as they continue their inquiries.
