PRESS NOTE

FIR REGISTERED AGAINST KOTAK MAHINDRA BANK TRANSFERRED TO

DIU/NDD, MANDIR MARG, NEW DELHI.

The FIR No. 0120/2019 dated 19/10/2019 U/s 420 & 34 registered at PS
Barakhamba Road, New Delhi against Kotak Mahindra Bank Ltd and six other
accused including Mr. Uday S. Kotak, MD & CEO, for their role in a scam of
forgery of documents, has been transferred by PS Barakhamba Road, New
Delhi to DIU/NDD, Mandir Marg, for proper further investigation and the proper
investigation regarding forgery and fabrication of documents has been already
started by DIU Mandir Marg by sending necessary notices to all accused.

After registration of the said FIR for committing fraud and forgery by Kotak
Mahindra Bank and others, Bagla family has also filed a complaint with the Court
of Chief Metropolitan Magistrate, New Delhi for malicious prosecution of the
applicants, under Section 200 r/w 190 Cr. P.C. and for taking cognizance of
offences Committed U/s 211 (IInd Part), 499/500, 501, 502 r/w 120B/34 IPC,
against Kotak Mahindra Bank Ltd & others.

The complainant Bagla Family was not aware of the involvement of certain
person including the then Directors of Kotak Mahindra Bank, therefore had
primarily made them as “unknown” accused. Now, by a search report issued by
a Chartered Accountant/Company Secretary, it revealed and verified that Mr.
Anand Mahindra along with certain other persons were Directors of Kotak
Mahindra Bank at the relevant time. The complainant accordingly made them
accused / party to the said complaint of malicious prosecution.

In the complaint apart from one Virendra Kumar Sharma, Kotak Mahindra Bank
and its Directors & Company Secretary and other officers namely Mr. Uday
Suresh Kotak, Managing Director, The Regional Manager, Kotak Bank (Delhi &
NCR), Mr. Anand Mahindra, Mr. Shivaji Dam, Mr. Chengalath Jayram, Dipak
Gupta, Ms. Bina Chandarana, Company Secretary, Mr. Chandra Shekhar
Prasad (The Then Deputy Manager, Legal), Mr. Sanjay Kumar, Officer, Kotak
Bank and CVIL Infra Limited and Bennett Coleman & Company Ltd., were made
accused.

It has been alleged in the complaint that the officials of the Bank in collusion and
in connivance with each other, hatched a conspiracy and forged and fabricated
documents including one affidavit and a power of attorney which were alleged to
have been executed by one of the Bagla’s family member i.e. Mr. Bhupendra
Bagla for mortgaging leased property against an unsecured loan and on the
basis of which the Bank initiated recovery proceeding before the Ld. DRT.

It has been further alleged in the complaint that the accused in connivance with
each other, falsely implicated one Bhupendra Bagla son of Dr. Santosh Kumar
Bagla (a renowned business family based at Mumbai & Delhi) in a criminal case
by using forged and fabricated documents created and used by the accused.

It has been further alleged in the complaint that the averments made by the
accused in this regard has resulted in multiple litigations and publication, which
are public documents and due to such malicious publication and false
allegations, the reputation of complainant and Dr. Bagla’s family, got tarnished in
the eyes of their friends, employees, business relations etc. It has been also
alleged that the credibility built by the Complainant over a span of time, has been
shattered due to leveling the false, frivolous, fictitious and baseless allegations
against the complainant. The Court has been prayed to take cognizance of the
matter and also prayed to punish the named accused as per law.

Bagla family’s complaint for malicious prosecution against Kotak Mahindra Bank
and its officials was listed before the Court of Metropolitan Magistrate, Patiala
House Courts, New Delhi wherein the Court has directed the complainant to file
certified copies of the judicial record as relied upon and FIR lodged on the
complaint of the accused, before the next date of hearing.

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