Allahabad Bank, Case 2: R. Thapliyal,Senior Manager,South Delhi
The banker is eager to accept the cash, through LIC schemes. He is also okay with cash in lockers. Says Thapliyal: “Agar insurance mein chahiye toh insurance mein bhi hum karwate hain convert … aisi koi baat nahin hai… dekh leta hoon isme aapka daal pate hain (If you want to invest in insurance, we can convert the money in insurance as well … there is no issue … let me see if we can invest your [money] in this [insurance]).”
The Cobrapost journalist asks to be directed to a senior officer of the branch. We are led to the desk of Senior Manager R. Thapliyal. We brief him quickly: A politician wants to invest Rs. 1 crore for long term, preferably in insurance, with guaranteed returns but no TDS.
Investments would be in three names: me, my wife and the politician’s wife.
We also tell him that all the money is in cash.
Thapliyal is a seasoned banker. Such an approach would not be new to him. He briefs us about KYC basics and about PAN card requirements. We are eager to lean towards insurance schemes.
Is that possible? How much can we invest?
Thapliyal is quick to catch on: “Cheque se karoge ya cash se(Will you do it through cheques or by cash)?”
We repeat that all of it is in cash.
Thapliyal is eager. “LIC wala cash mein kitna kar payega poochoon(Should I ask how much cash LIC guy will be able to accept)?”
While looking up the insurance official’s number on his phone, he asks: “Agar insurance mein chahiye toh insurance mein bhi hum karwate hain convert … aisi koi baat nahin hai… dekh leta hoon isme aapka daal pate hain (If you want to invest in insurance, we can convert the money in insurance as well … there is no issue … let me see if we can invest your [money] in this [insurance]).”
He calls another banker, D. Mehra, who deals looks after the insurance business of the bank.
We can hear only our side of the conversation: “Koi yahan pe aaye the… wo keh rahe hain cash mein insurance mein karwana hai… toh kitna tak mein ho jayega? Cash mein policy mein wo daalna chahte hain na… Wealth Plus ya kisi mein dalwa do jaise… jitna aap kara sako… wo toh ek crore tak keh rahe hain … jaise aap bataoge na unko… PAN number woh denge …. account ke through ya jaise bhi karna chaho… (Somebody here wants to go for investment in insurance in cash … how much can you do? He wants to put it in cash in policies … put his money in something like Wealth Plus … whatever amount you can … he is saying he can do up to a crore … whatever you suggest him … he will give the PAN number … maybe through an account or whatever you suggest).”
Mehra wants to speak to the investor directly, so Thapliyal passes the phone to us. We state our basics to Mehra. Thapliyal takes over again with Mehra: “Account khulwa lenge fir… baat kar lete hain … account khulwa ke inka fir wo introduction wagaireh ki dikkat paregi… dekh lete hain … account ho jaye toh zyada better hai… account ke through transaction rahe… ye to ek crore tak ke liye keh rahe hai (We will open an account… will talk with him … but there would be a problem of introduction for opening an account for him … let us see … it is better if account is opened … the transaction should be through an account … he is talking about Rs. 1 crore).”
Off the phone, he asks us: “Kisi ka aisa koi hai jaan pehchaan, jiska account ho (Do you know someone who has an account here)?” Thapliyal needs an introducer.
But will it be safe to invest through an account?
Thapliyal says: “Account mein koi dikkat nahin … Wealth Plus, jo insurance ka hai … usmein toh koi problem nahin hai… usmein toh aap ko jo hai LIC ki policy hai wo … aur LIC mein aisi koi dikkat wali baat nahi hai (There is no problem through account … especially in schemes like Wealth Plus … it’s an LIC policy … there is no problem whatsoever with LIC).”
Our main intention is to launder the cash; we want it back by cheques.
Thapliyal says: “Payment toh cheque se hi milti hai (Payment is received by cheques only).”
The reporter requests the banker not to disclose any information regarding this investment. Thapliyal says: “Nahin nahin … humare yahan toh hazaaron account hain … aisi koi baat nahi (No, no … there are thousands of accounts here … there is nothing like that).”
With the insurance laundering system activated, we turn to the second issue: stashing cash in lockers. We tell him that Rs. 7–8 crore more is expected soon and we need a big locker to store the cash.
“Bada locker toh nahi hoga … honge small hi locker… locker toh mil jayenge that is not a big issue (There are no big lockers … only small lockers … you will get lockers, that’s not a big issue),” the manager assures us.
As we conclude, we also tell him that we want the money for the locker to be counted. So we need counting machines at the bank.
Thapliyal says: “Wo sub hai, usmein koi prolem nahi hai (We have them, there is no problem).”
The meeting ends with an assurance from Thapliyal that Mehra will meet the reporter in the evening.
