Seven top officials of public sector banks, financial institutions and private companies have been discharged by Central Bureau of Investigation (CBI) court in a multi-million rupee bribery scam of 2010. On November 23, 2010, the Economic Offences Wing of CBI had conducted raids in Mumbai, New Delhi, Chennai, Jaipur, Kolkata and Jalandhar.
The arrested accused were then holding these designations: Naresh Chopra, was the secretary (Investment), Life Insurance Corporation (LIC), Ramchandran Nair, was the director and chief executive officer, LIC housing finance limited, Ram N Tayal, general manager, Bank of India, Manindersingh Johar, was the director (chartered accountant) Central Bank of India, Venkoba Gujjal, was the deputy general manager of Punjab National Bank and Rajesh Sharma, who was the managing director of Money Matters.
Mr Sharma is now the managing director of Capri Global Capital. On March 12, 2015, special court had discharged Mr Chopra charged with section 120B (criminal conspiracy) of the Indian Penal Code and section 7 (public servant taking gratification other than legal remuneration in respect of an official act), section 12, (punishment for abetment of offences), section 13 (criminal misconduct by a public servant) and section 14 (criminal misconduct by a public servant) of the Prevention of Corruption Act.
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On June 24, 2015, Mr Sharma, along with two of his colleagues Suresh Gattani and Ram Gopal Bansal, Mr Tayal, Mr Gujjal, Mr Nair and Mr Johar were discharged by special judge AA Khan after being charged under the same sections mentioned above. They were all discharged as per Section 239 (when an accused is discharged) of the Criminal Procedure Code.