The Central Bureau of Investigation (CBI) has arrested Seiminthang Singson, former Senior Manager of Punjab National Bank (PNB) in Dimapur, and Sanjit Chandra Dey, the proprietor of Century Enterprises, in a high-profile case of bribery and loan fraud. The arrests come after a formal case was registered by the CBI on June 4, as part of a broader investigation into fraudulent credit extensions by banking officials in collusion with business entities.
According to officials, Singson facilitated a ₹20 lakh Cash Credit limit for Dey’s firm, despite its weak financial credentials. In return, Dey transferred ₹1 lakh directly to Singson’s bank account as a bribe, setting off red flags and eventually triggering a full-scale probe.
The case highlights growing concerns around fraudulent lending practices in regional bank branches, where internal checks are sometimes bypassed due to corrupt internal networks.
FCRF x CERT-In Roll Out National Cyber Crisis Management Course to Prepare India’s Digital Defenders
Raids in Dimapur and Guwahati Reveal Widespread Irregularities
Following the registration of the case, the CBI conducted coordinated raids on June 6 and 7 across five locations in Dimapur and two in Guwahati. These operations yielded a significant haul of incriminating evidence, including financial documents, digital records, and purchase invoices.
Investigators discovered that the actual bribe amount was ₹1.69 lakh—exceeding the initially traced ₹1 lakh payment. Moreover, invoices worth ₹2.06 lakh for electronic appliances purchased by Dey in Singson’s name were recovered from the premises of Century Enterprises.
Some of these electronic items were physically retrieved from Singson’s residences in both Dimapur and Guwahati and have been seized as material evidence in the case. The trail of transactions and recovered items further strengthens the allegation of quid pro quo in the credit sanction process.
Legal Action and Ongoing Investigation
The two accused are slated to be produced before jurisdictional courts in Dimapur and Guwahati. The CBI is continuing its investigation to ascertain the full extent of the conspiracy and determine whether other individuals within the bank or associated firms were involved.
The case not only underscores the systemic vulnerabilities within public sector banking institutions but also reflects the agency’s proactive approach in addressing corruption and restoring accountability. Officials believe that further leads may emerge from the digital and financial records seized during the raids.
This case marks yet another instance of the CBI’s intensified focus on financial misconduct, particularly in India’s northeastern regions, where banking oversight has come under increasing scrutiny in recent years.