Suspended Kotak Bank deputy VP surrenders
Panchkula, April 9 -- Pushpender Singh, 40, the then branch manager of the Sector-11 branch of Kotak Mahindra Bank, who was later promoted as deputy vice-president (now suspended), surrendered at the state vigilance and anti-corruption bureau (ACB) headquarters in Sector-23 on Wednesday in connection with the alleged Rs.150-crore fixed deposit receipts (FDRs) fraud related to the Panchkula municipal corporation (MC).
According to the investigation agency, Pushpender, a resident of Sector-2, is the alleged mastermind of the multi-crore fraud. He, along with Vikas Kaushik, the then senior accounts officer of MC, had allegedly opened fake bank accounts in the name of the civic body, and prematurely encashed MC fixed deposits (FDs) in connivance with bank officials. Meanwhile, Kaushik, who was arrested on April 2, was produced in a local court on Wednesday after completion of his five-day police remand. Following the ACB's submissions, seeking remand extension, the court sent him to two-day police remand. The agency submitted that custodial interrogation of both accused together is essential to ascertain their exact roles. The court also allowed an application filed by the prosecution to obtain Kaushik's specimen signatures after he raised noobjection. htc...
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