CBI arrests 3 from Maharashtra in UP bank fraud case


New Delhi, Aug 5 | The Central Bureau of Investigation has arrested three absconding accused in a bank fraud case in Lucknow from Maharashtra.

A CBI spokesperson said that Gaurav Sagar Gupta was arrested from Pune while Vaibhav Gupta and Usha Gupta were arrested from Mumbai. All three were produced before a court in Lucknow and were sent to judicial custody.

The CBI had registered a case on December 13, 2007 against the three arrested accused and 12 other accused, including officials of the Union Bank of India and the Central Bank of India in Lucknow, for entering into conspiracy with themselves and others in sanctioning and disbursing housing loans and CCH limits against forged and bogus documents.

He said that an alleged loss of Rs 201.59 lakh was caused to the Union Bank, and Rs 49.40 lakh to the Central Bank.

It was also alleged that eight housing loans were sanctioned from the Union Bank, three housing loans from the Central Bank, and six CCH limit/term loan from the Union Bank towards purchase of semi-built flats, but the accused diverted the loan amount.

It was also alleged that these housing loans were obtained by the accused on the strength of fake lTRs, bills of non-existing firms etc, the completion of work falsely shown and observations made regarding completion certificate in respect of sanctioned loans.

The official said that after investigation, a charge sheet was filed on in April 2010 against 15 accused including then officials of both the banks and private persons.

The three accused were evading presence before the trial court at Lucknow since filing of charge sheet against them on April 30, 2010, and it declared them proclaimed offenders and issued non-bailable warrants on October 14,2019 against them.

He said that the CBI had also registered a case on December 28, 2007 against Gaurav Sagar Gupta and unknown officials of the Punjab National Bank, Lucknow.

It was alleged that the accused, a resident of Lucknow, entered into a conspiracy with officials of the PNB and obtained housing loan of Rs 12.80 lakh on the basis of forged documents and by not repaying back the said amount, caused loss to the bank.

A charge sheet was filed against four accused in the second case in January 2010.

Source: IANS

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Does MBA really help in getting a better job offer ?

Does MBA really help in getting a better job offer ?

Most students pursuing an MBA come with the sole objective of having a decent job offer or a promotion in the existing job soon after completion of the MBA. And most of them take loans to pursue this career dream. According to a recent survey by education portal Campusutra.com  74% MBA 2022-24 aspirants said they would opt for education loans.

There are exceptional cases like those seeking master’s degree or may have a family business to take care of or an entrepreneurial venture in mind. But the exception cases are barely 1%. For the rest 99%, a management degree is a ticket to a dream job through campus placements or leap towards career enhancements. Stakes are high as many of them quit their jobs which essentially means loss of 2 years of income, apprehension and uncertainty of the job market. On top of that, the pressure to pay back the education loans. Hence the returns have to be high. There is more than just the management degree. Colleges need to ensure that they offer quality management education which enables them to be prepared for not just the demands of recruiters and for a decent job but also to sustain and achieve, all along their career path.

  • So, what exactly are the B Schools doing to prepare their students for the job market and make them industry ready ?
  •  Are B schools ready to deliver and prepare the future business leaders to cope up with the disrupted market ?  

These are the two key questions every MBA aspirant needs to ask, check and validate before filling the MBA application forms of management institutes. And worth mentioning that these application forms do not come cheap. An MBA aspirant who may have shortlisted 5 B Schools to apply for, may end up spending Rs 10,000.00 to Rs 15,000.00 just buying MBA / PGDM application forms.

While internship and placements data of some management institutes clearly indicates that recruiters today have specific demands. The skill sets looked for are job centric and industry oriented. MBA schools which have adopted new models of delivery and technology, redesigned their courses, built an effective evaluation process and prepared the students to cope with the dynamic business scenario, have done great with campus placements despite the economic slow down.

However, the skill set being looked for by a consulting company like Deloitte or KPMG may be quite different from FMCG or a manufacturing sector. Institutes need to acknowledge this fact and act accordingly.

  • Management institutes should ensure that students are intellectually engaged, self motivated and adapt to changes fast. In one word ‘VUCA ready’.
  • B Schools should encourage students to participate in national and international competitive events, simulations of business scenarios.
  • Institutes should have the right mix of faculty members with industry exposure and pure academics.

The placement records of 2021 across top management institutes indicated the fact that recruitment is happening, skilled talent is in demand and certain management institutions continued to attract recruiters even in the middle of an ongoing crisis.

It is time, all management institutes rise to the occasion, understand market realities and identify areas of improvement at both ends – students and faculty.

After all, the stakes are high at both ends. B Schools taking corrective measures will stay while those which are lagging will end up shutting down.

Author Name : Nirmalya Pal


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