Page 21 - Banking Finance April 2018

CO-OPERATIVE BANK NEWS

CO-OPERATIVE BANK

NEWS
NEWS
NEWS
NEWS
NEWS

Fraud with the Uttar Complaint filed against cooperative bank

Pradesh Cooperative A businessman has lodged a complaint against top officials of a district coop-
erative bank, accusing them of conducting
Bank "unauthorised" transactions worth Rs 1 crore through
The Simbhaoli Group - which is under his account. Shivraj Bhosale (61) has claimed that by
probe for doing this, the bank officials have exposed him to ad-
cheating the ditional tax liability.
Oriental Bank The complaint of cheating and forgery was lodged
of Commerce with the economic offences wing of Navi Mumbai police against Raigad District
of Rs 109.08 Central Cooperative Bank's chairman, director and manager of Panvel branch.
crore - has allegedly duped Uttar Bhosale, however, claimed that the bank's current chairman is MLC from Alibaug,
Pradesh Cooperative Bank Limited of Jayant Patil, and his family members are its directors. Patil, on his part, claimed
Rs 60 crore. Interestingly, the group that it is a "false" complaint.
had NPAs worth Rs 152 crore in the co-
According to the FIR, Bhosale took a loan of Rs 1.5 crore in 2012. The bank said
operative bank, the bank still sanc- he stopped repaying it after 2015 and a court notice was sent to him. The bank
tioned another Rs.60 crore loan to one has already initiated legal action against Bhosale for defaulting on installment
of the companies of the group. A com- payment.
plaint pertaining to the cooperative
bank has been forwarded to the PMO.
Delhi Governor asks RBI to Probe co-operative bank
The Central Bureau of Investigation scam
has booked Simbhaoli Sugars, Mann,
its chief executive officer Gurpal Delhi Lieutenant Governor has issued directions asking RBI, the Economic Of-
Singh, who is the son-in-law of Punjab fences Wing of the Delhi Police and the Anti-Corrup-
Chief Minister Amarinder Singh, and tion Branchbto inquire into the allegations of "irregu-
10 others and unknown bank officials larities" in the Delhi Nagrik Sehkari Bank Ltd.
in the OBC bank fraud case filed last The directions were issued, a day before the budget
month. session of the Delhi Assembly is set to begin. The House
As per a document, the cooperative committees are likely to present their report on the
bank had sanctioned Rs 152 crore to year-long probe into the alleged scam at the budget session.
Simbhaoli Sugars, but could not re- The statement added that the RBI "has been requested to inquire into the
cover the money which then turned matter to ensure that there are no financial irregularities in the running of the
NPA in April 2017. bank… and corrective and preventive actions are taken."

BANKING FINANCE | APRIL | 2018 | 21