The CBI on Thursday questioned Punjab Chief Minister Amarinder Singh’s son-in-law in the Rs.109 crore Oriental Bank of Commerce (OBC) alleged fraud.
Gurpal Singh, the chief minister’s son-in-law and the deputy manager of Simbhaoli Sugars was questioned by the Central Bureau of Investigation (CBI) along with GSC Rao, the former CEO of the firm.
As per reports, Gurpal Singh is among the 11 persons accused of causing a loss of Rs.109 crore to the OBC.
The agency has also registered a case of fraud against Simbhaoli Sugars Limited.
Amarinder Singh has dismissed all allegations against his son-in-law and has argued that Gurpal Singh, was just a minority shareholder with a mere 12.5 per cent share in Sambhauli Sugars.
He has also said that Gurpal’s name was being “unnecessarily dragged into the controversy” and “baseless allegations were being levelled without bothering to verify the facts, only to secure political mileage.”
The OBC is the latest public sector lender to join the list of state-run banks which have been marred by loan defaults.