Oriental Bank Fraud: Lookout Notice Issued Against Punjab CM Amarinder Singh’s Son-In-Law

The Central Bureau of Investigation (CBI) has issued a lookout circular against Gurpal Singh, son-in-law of Punjab Chief Minister Captain Amarinder Singh, and three others accused in the Simbhaoli Mills scam of Rs 97.85 crore, The Tribune reports.

The three others against whom the CBI has issued a lookout circular are Sugar Mill Chief Executive Officer GSE Rao, Chief Finance Officer Sanjay Thaparia and Executive Director Gursimran Kaur.

The CBI had last month registered a case against the top executives of Simbhaoli Sugars Limited, among the largest sugar mills in the country, in connection with an alleged bank loan fraud of Rs 97.85 crore and for causing a loss of Rs 109 crore to the state-owned Oriental Bank of Commerce (OBC).

In its first information report (FIR), the top investigating agency has named company's top officials, including Sing’s son-in-law. These officials have been charged with criminal conspiracy, cheating and forgery under Prevention of Corruption Act for causing loss to the bank.

According to the FIR, the bank filed the complaint on 17 November. The Hapur-based Sugar Company has been accused of fraudulently diverting funds received as loans for sugarcane farmers and self-help groups.

The CBI has carried out searches at eight premises and registered office of the company in Delhi, Hapur and Noida.

Singh’s son-in-law holds a 12.5 per cent share in Simbhaoli Sugars. When the scam first came to light, Singh had defended him saying the charges were “unsubstantiated”.