OPERATION RED SPIDER, PART- 1 ICICI BANK, CASE: 22, REHAAN, ASSISTANT MANAGER, SOUTH DELHI

ICICI BANK, CASE: 22, REHAAN, ASSISTANT MANAGER, SOUTH DELHI

ICICI BANK, CASE: 22, REHAAN, ASSISTANT MANAGER, SOUTH DELHI


cobrapost - July 26, 2011

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Rehaan, Assistant Manager; B. Mahajan, Branch Manager, ICICI Bank, South Delhi

 “Jab investment ho jayegi to ek baad ek khul jayegi baat (Let the investment begin, then things will fall in place one after another)” – Mahajan

The moment the Cobrapost journalist tells Assistant Manager Rehaan that he wants to invest Rs. 50 lakh cash to make it white, he takes him to his boss, Branch Manager B.Mahajan. Rehaan tells him: “Fund hain achchhe khase toh usko thoda white mein convert karna hai aur long term ke liye insurance mein daalna chahte hain (He has some good funds. It has to be converted into white, and he wants to invest in insurance for long term).”

Mahajan is ready for a one-to-one meeting at the politician’s home: “Aap … ye sab cheez toh matlab over the phone nahin … ya fir one-to-one bhi nahin ho sakti … toh ek baar fir hum log ghar mein jaakar baith sakte hain (You see… such things cannot be discussed over the phone or sitting one-to-one here … then can we come to his residence and sit there).”

Mahajan is sensible enough to suggest a long-term plan which fetches tax-free returns of about 22 per cent.

But won’t the IT people come knocking on his door if he gives them a PAN along with the other documents that are required?

Not according to him: “Koi problem nahin ji kyonki investment mein kabhi bhi income tax kabhi bhi aapke paas nahin … kabhi bhi aap is area mein hain poore high profile log hain(There is no problem, Sir, because in the case of investment, Income Tax people don’t ever come to you … and your are staying in an area like this where all people are high profile).”

But do bear in mind that the minister’s name has to be kept out of this. Mahajan:Aap agar apne driver ke naam pe bhi investment karwate hain to mujhe koi apatti nahin hai as long as driver mereko valid document de raha hai. Aap kiske naam pe kar rahe hain, kaise kar rahe hain, main question bhi nahin poochoonga (Even if you were to make an investment in the name of your driver, I have no problem as long as the driver is giving me valid documents. In whose name you are investing, how you are doing it, I will not ask you any questions).”

Now for a locker please for the Rs. 5–7 crore likely to come in February. Mahajan seek to finalise the  investment first: “Main bada locker arrange … jab investment ho jayegi to ek baad ek khul jayegi baat … (I … arrange a big locker … let the investment begin then things will fall in place one after another).” Then he adds:  “Main bola ki usko leke … maine locker ka requirement diya hai. Hopefully, jab tak ka aap samay maang rahe hain, tab tak mere paas aa jayega (I tell you … in that regard … I have already given the locker requirement. Hopefully, by that time you require I should have it with me).”

To reassure his client that nothing will go out, Mahajan on to stress: “Ismein disclose karne waali koi baat nahin (There is nothing to disclose in this).”

Would it be possible to transfer some of these crores kept in your locker to England where the politician’s wife often goes? Mahajan says: “Bahar mein … off the line kya procedure hai humein toh jaankari nahin … humara on record jo procedure hai … aap remittance kar sakte hain bahar… kuchh nahin ek form sign karna hai usko remittance bhejni hai (Outside …what the offline procedure is we don’t know … what our on-record procedure is … you can send money abroad through remittance … you have to sign on a form and send the remittance, nothing else).” The money will be transferred directly into the account of the beneficiary there. How much can we send through remittance? Mahajan claims: “Aap kya 20–25 crore bhejiye hum log kya dikkat (You can send Rs. 20–25 crore. We have no problem).”

The money is safe, the identity is safe and the ill-gotten gains can be multiplied manifold in addition to being laundered.

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