NEW DELHI, June 26 -- The CBI has flagged issues of pending sanctions required to initiate probe and chargesheet bank officials in corruption and fraud cases, saying it was affecting the investigation and prosecution.
The issue came up during a meeting between senior officers of the CBI with the secretary, Department of Financial Service, Finance Ministry, senior officers of the ministry, banks and Chief Vigilance Officers (CVO) of the banks on Thursday.
The CBI has found that in several cases the sanction to prosecute bank officials is denied by banks resulting in the case losing approval under provisions of the Prevention of Corruption Act and the trial being shifted away from the special courts to regular courts.
It is mandatory for t...