being chairman of the Audit Committee. The Memorandum placed before the Management Committee was prepared by the Bank's Credit Department and signed by the Deputy General Manager (Credit) and General Manager (Credit). 11. Dr Ram Saduba Sangapure (PW-4) was a Member of the Committee of New Business Group (NBG) and Loan Advisory Committee (LAC). He stated that NBG examines large credit proposals concerning new borrowers and takes a view. He stated that as per the practice that prevailed at the relevant time in the Bank, after receiving regular proposals from the branch/zonal office, the same was processed by the Credit Department. Recommendations of the Credit Department in Executive Brief format used to be sent to the Risk Management Department to weigh the risk involved. After that, it used to be placed before the LAC. Subsequently, the proposal used to be placed before the Executive Director and CMD. After their clearance, the proposal was placed before the Management Committee for a