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CBI seeks Interpol aid to nab CRB chief

The Central Bureau of Investigation has sought Interpol's help to nab CRB Chairman C R Bhansali.

All airports have been asked to keep a look out for Bhansali though he is believed to have left the country.

Besides the State Bank of India, the Hinduja-owned IndusInd Bank and Reliance Cap, the CBI will also be investigating the role of Credit Analysis & Research Ltd which gave a clean chit to CRB Caps's fixed deposit instrument..

The CBI filed its first information report on Tuesday at the special CBI court of Judge Roshan Dalvi regarding the alleged involvement of SBI officials with Bhansali in cheating CRB of Rs 600 million. Former SBI managing director M K Sinha, who is acting chairman, CRB Global Bank, has been questioned by the CBI.

According to the CBI, Bhansali approached the SBI in May last year seeking the facility to encash warrants for interests, repayment of principal amounts of fixed deposits through the bank.

The company was to deposit an advance of three months outflow of funds -- Rs 5 million -- and submit a list of refund orders and interest warrants every fortnight. CRB Capital Markets deposited the money, the list demanded and pre-funded the account till February, after which it stopped providing the lists or paying the amount stipulated.

The CBI claims it has sufficient evidence of the involvement of top officials from the SBI's Bombay main branch.