CBI Arrests Former Assam CM Hiteswar Saikia’s Son In 1996 Bank Loan Scam Case


The Central Bureau of Investigation (CBI) arrested Ashok Saikia on Sunday after a raid on his home in connection with a bank loan fraud case of Rs 9.37 lakh.

Saikia, the son of former Chief Minister of Assam Hiteswar Saikia, was detained in a 1996 loan fraud case at the Assam State Co-operative and Agriculture Development Bank (ASCARD).

A CBI team raided Ashok Saikia’s residence in Sarumataria, Guwahati, and interrogated him for hours before his arrest.

Ashok Saikia’s brother, Debabrata, told News18: “This is a very unfortunate case. As our lawyer reports, the CBI should not have intervened in the case. My brother Ashok has already paid the amount to ASCARD Bank, a rural cooperative bank. My little brother is innocent. All the loans have already been repaid by him by 2015. I am sure that justice will be done for him. “

Debabrata Saikia is the Leader of the Opposition in the Legislative Assembly of Assam.

“There have been two cases registered against me. In the first case, the court has already rendered the judgment. In addition, I have appealed to a higher court in this regard and therefore I do not have much to say about it, ”Ashok told the media.

“The second case concerns a loan case, in which I have already paid my overdue contributions in both principal and interest after a settlement with the bank. However, the case is still pending in court. CBI sent me a notice and asked me to appear in court on November 9, 2021, ”he said.

During an interaction with the media, Ashok also produced a copy of the letter from ASCARD bank claiming that he had already repaid the full amount on September 14, 2011.

The letter from the bank reads: “Ashok Kumar Saikia, Director, HBS India Pvt. Ltd was a lender to Assam State Co-operative Agriculture and Rural Development (ASCARD) Bank Limited. He used a loan amount of Rs 9 37,701 only under the bridging loan program during the year 1996. According to our letter of 14.09.2011 under the compromise settlement program he has fully repaid principal and interest contributions. Now his aforementioned loan is liquidated.

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