May 13, 2002 | 1140 IST
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Money > Business Headlines > Report May 13, 2002 | 1140 IST |
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Former chief of Seamen's PF heldBS Banking Bureau A Mumbai magistrate has ordered police remand for Anup Kumar Gond, former commissioner of the Seamen's Provident Fund, till May 17. The Central Bureau of Investigation, which is probing the Rs 93-crore hole in the fund on account of undelivered gilts, took him into custody on Sunday. The CBI has registered a case against Gond and two brokers, including Home Trade chairman Sanjay Agarwal, for "siphoning" Rs 930 million from the Seaman's Provident Fund. The CBI, which searched Gond's residential quarters on Saturday, found he owned five flats in Mumbai. These properties were acquired between 1998 and 2000. Gond's passbooks showed he and his wife had savings bank deposits of Rs 1.2 million. "We are treating this as a case of unaccounted wealth," CBI sources said, adding that the agency was also looking for Ketan Sheth of Giltedge Management Services. Earlier, the director-general of shipping on Friday handed over the case to the CBI after it was discovered the fund did not have securities - government securities and bonds of public sector undertakings - worth Rs 930 million. The money had been invested through brokers. Powered by ALSO READ:
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