Ahmedabad Nov 19 PTI The CBI has arrested two senior officials of Ratnakar Bank RBL Bank for allegedly taking a bribe Rs 30 lakh for issuing a property valuation certificate an official release said here on FridayThe arrested officials were identified as Nimesh Manger Regional Head Agro Division who is based in Ahmedabad and Saurabh Bhasin Recovery Head of the bank who is based in PuneA businessman from Gandhinagar and 12 members of his family who own agricultural land in Arvalli district applied for a loan under the Development of Commercial Horticulture through Production and Post Harvest Management of Horticulture Scheme of the National Horticulture Board in 2016 the CBI release saidUnder the scheme the Union government gives 50 per cent subsidy on project costRatnakar Banks Ahmedabad branch disbursed the businessman a loan of Rs 1087 crore which was 75 per cent of the project cost in the same yearBut in 2017 his application for subsidy was rejected by the National Horticulture Board NHBThe NHB sought a valuation certificate of mortgaged properties from the lending bank for sanctioning subsidyDespite several applications the bank did not issue the certificate he needed the businessman allegedEventually all the 13 loan accounts of the complainant and his family members turned non-performing assets as they could not pay repayment installmentsAs per the businessman when he visited the bank earlier this month Bhasin allegedly demanded Rs 1 crore to issue the valuation certificates and later agreed to accept Rs 30 lakhBhasin allegedly asked him to pay the money to Nimesh MangerAfter the businessman filed a complaint the CBI laid a trap and caught Manger red-handed while accepting Rs 30 lakh on Friday morning Bhasin was arrested in Pune subsequently said the releaseSearches were also conducted at five locations including the offices and residential premises of both the accused at Ahmedabad Pune and Delhi the CBI said adding that probe was on PTI PJT KRK KRK

New Delhi Nov 19 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 PTI ABS SMN SMN