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For a bank loan of Rs 300 crore, PSEB paid Rs 1.62 crore to middlemen: VB report

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  • Randhawa further stated: “The report was examined and it has been recommended to take departmental action against suspects. The matter has been referred to Principal Secretary, Punjab Government, Electricity Department (Energy Section), Chandigarh (Administrative Department) to look into the matter at the department level and take action accordingly.

    Far from being impressed, Chief Justice Tirath Singh Thakur had several queries for PSEB’s counsel.

    “Why cannot your MD speak to the bank over telephone?” What special logic could the brokers have given to the bank, which your own officers could not give?” the Bench asked.

    The Chief Justice observed, “It is beyond our comprehension as to why a government organisation should engage middlemen for getting a loan from another government bank? We thought banks chase customers for giving loans. It is surprising the Board has given a huge fee to middlemen for getting a term loan.”

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    When the Court asked Arora to suggest as to which agency should investigate the case, Arora sought a probe by the Central Bureau of Investigation.

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