The Allahabad High Court has asked the Uttar Pradesh government to submit the report of an inquiry conducted into the alleged scam in installation of computers in branches of district cooperative bank in the state in 2010.
The Lucknow bench comprising justices Satyendra Singh Chauhan and Ritu Raj Awasthi fixed January 28 as the next date of hearing on a petition seeking CBI probe into the alleged scam.
The petitioner alleged scam into the installation of computers in the branches of cooperative bank in 2010, the petitioner's counsel ML Yadav said.
He further submitted that in 2012, the Chief Minister had directed the then chief secretary to conduct a probe through a high-level committee.
However, the state counsel said that the inquiry was conducted in "pursuance of the directions issued by the CM to the chief secretary and the committee had come to the conclusion that there was no deficiency in installation of computers in the branches of the said bank.
The prosecutor had said the two bank officials were
taking one per cent commission against the total amount of money deposited. They agreed to accept the commission in the form of gold bar which was worth Rs 39 lakh, he had said.
ED, while explaining the modus operandi of the case, underlined the role of Kushwaha and his associates.
It said that the cash collected by sale of gold using demonetised Rs 500 and Rs 1,000 notes, was "laundered through banking channels with the help of money launderers who are professionally qualified CAs (Chartered Accountants) and managing several dummy/shell companies and finally payments from such shell companies were made through RTGS to bullion dealers and the physical gold so purchased at market rate of Rs 31,000-Rs 32,000 per 10 gms was handed over to the persons from whom advances were received".
The agency's probe till now, after it registered a criminal complaint under the PMLA on November 30, found that huge money was being transferred through RTGS to some shell companies including a firm whose Director was a "petty labourer" living in a slum in 'Anna Nagar jhuggi' camp in the national capital.
The Axis Bank, in a statement, had earlier said "the bank is committed to following the highest standards of corporate governance and has zero tolerance towards any deviation on the part of any of its employees from the set model code of conduct. In this particular case, the bank has suspended the erring employee and is cooperating with the investigating agencies."
ED has alleged the two bankers were allegedly indulging in converting black money into white by reportedly misusing banking transfer systems like RTGS and NEFT in the wake of the demonetisation of Rs 500 and Rs 1,000 notes.
A number of bank accounts of various people and traders are under the scanner of the agency in the case, ED has said.
ED registered a criminal complaint against the two bankers and others based on a Delhi Police FIR after three persons were intercepted with Rs 3.7 crore cash in old currency a few days ago in front of Axis Bank's Kashmere Gate branch.
The Income Tax department too had carried out its action in this case, surveyed the bank branch and later searched the residential premises of the two.
