CBI completes probe into loans-for-bribes scam

The Economic Offences Wing of the Central Bureau of Investigation (EOW-CBI) on Monday completed its investigation into loans-for-bribes scam and claimed real estate giants like Lavasa and Adani Group received undue favours in the multi-crore housing scandal.

Quoting highly-placed sources, NDTV news channel said CBI investigation revealed that companies, including Lavasa, Adani Group,DB Realty, Suzlon, , Kumar Developers, Emaar MGF and Mantri Realty, bribed bankers to get hundreds of crores of loans for their housing projects.

The EOW-CBI has sent the report to its director for approval.

In November, the CBI arrested several senior officials of public sector banks like Central Bank of India, Punjab National and Bank of India besides a top official of the LIC Housing Finance. An official of financial services group Money Matters was also arrested.

They were accused of taking bribes to facilitate large corporate loans.

The agency believed the Money Matters had bribed the bankers to get loans for many companies, including wind energy developer Suzlon, hill station township builder Lavasa, and Mumbai developer DB Realty.

The CBI had sent notices to 21 companies in the bribery and corruption case.