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Since both the valuers had failed to submit documentary evidence (official) to support the valuation arrived at by them the bank officials in consultation with the valuers decided to justify the valuation arrived at by the valuers by creating imaginary sale documents wherein the sale price of Swadha property was sealed to be Rs. 45 crores.

As part of the aforesaid conspiracy, assessment slip dated 07.01.13 was obtained from Registrar of Assurances, Kolkata by DR Shanker Bhattacharjee on bank's instructions vide letter dated 29.12.12 wherein in the query from Dr. Shanker Bhattacharjee of his agent mentioned the set forth value of Jessore Road Property at Rs. 45 crores as decided by them in advance in consultation with the bank officials. As per the procedure in vogue, if the set forth value which is provided by the party i.e. by the bank valuer in the instant case is higher than the market value as generated otherwise from the system then the set forth value is shown as the market value and accordingly the market value of Jessore Road property of SBPL was assessed at Rs. 45 crores by the Registrar of assurances Kolkata which on record served the purpose of all concerned involved in the conspiracy.

It is not understood as to wherefrom the set forth value of Rs. 45 Crores was derived by the valuer in order to justify his valuation. It is also not understood as to which sale document was relied upon by the authorities as mentioned in type of deed (0101) sale document while obtaining the assessment slip dated 07.01.2013.

C. Thereafter in furtherance of their misdeeds the bank sanctioned maximum possible loan against mortgage of the Jessore Road property to M/s JSPCPL The erstwhile Assistant General Manager of Union Bank of India, Industrial Finance Branch, Kolkata namely, Sri S.K. De and another bank official, namely, Sri Abhijit Basak, Chief Manager had active participation in preparation and obtaining of such overstated valuation report dated 05.11.2012 by deceiving the higher management of the Bank and they obviously derived pecuniary benefit out of such fraudulent deeds. Surprisingly the Chief Manager of the bank namely Sri Vijay Kumar Shaw in a letter bearing Ref. No. ARB:KOLJSPCL303:18-19 dated 25.06.18 addressed to SBPL has stated as follows that QUOTE "M/s (JSPCPL) availed substantial finance from our bank against the corporate guarantee of M/s SBPL it may be noted that only due to corporate guarantee from SBPL bank extended substantial finance" UNQUOTE.