Officials of Delhi shelter board, Bank of Baroda booked for fraud

Board cheated of ₹208 crore in fake fixed deposit receipts, says CBI

The CBI has registered a case against unknown officials of the Delhi Urban Shelter Improvement Board (DUSIB), an autonomous body under the Delhi government’s control, and the Bank of Baroda for allegedly cheating the DUSIB of about ₹208 crore. The case has been instituted based on the findings of a joint surprise check by the agency and the BUSIB’s Vigilance Department at its office in Delhi’s I.P. Estate on April 13. The CBI found that from September 1 last year till March, the DUSIB funds were invested in the form of 112 fixed deposits with the Bank of Baroda’s Paharganj branch. The funds were transferred to two accounts with the Bank of Baroda, from five accounts of the DUSIB head office with the Central Bank of India. In lieu of the investment, only printouts of the purported fixed deposit certificates were issued.