New Delhi: Days after a CNN-IBN and FirstPost.com investigation found that ganglord Dawood Ibrahim's cash was washing up in the offshore banking haven of Nassau in The Bahamas in a Bank of Baroda branch, the Central Board of Direct Taxes (CBDT) has approached the channel seeking details into the report and has sought a copy of the CD. On Saturday, Finance Minister P Chidambaram had assured that officials will look at the CD of the story and take action as required. Bank of Baroda, however, has denied any involvement in the alleged transfer of Dawood's funds.
Meanwhile, R Jagannathan, Editor, FirstPost.com, had said, "Bank of Baroda should be checked. What are they doing in Nassau? Are they serving an Indian community? They should do a full investigation of their clients. As of now, it is only a Know Your Customer (KYC) policy violation that happens regularly in India".
"In response to some of the news items appearing in TV channel regarding the purported transfer of funds through Bank of Baroda, Nassau Branch, Bahamas, it is clarified that Bank of Baroda, Nassau has been maintaining among others, the account of Dubai Exchange for last several years. It is a KYC Compliant account where transactions takes place in normal course of business to established banking channels," said the bank in its statement....more
06:15 PM, Apr 07, 2013