Ostia SCS Secretary Arrested for Embezzling Rs 11.83 Lakh Bank Loan Repayment Amount
Bhubaneswar: Odisha Vigilance on Saturday arrested Srinivas Mantri, Secretary, Ostia SCS under Central Co-Operative Bank Ltd., Saranda Branch, Banki in Cuttack district for allegedly misappropriating loan repayment amount of Rs.11,83,718. The money was collected by Mantri from loanees on different dates, but he not entered the same in the Day Book of Ostia SCS. As [...]
Bhubaneswar: Odisha Vigilance on Saturday arrested Srinivas Mantri, Secretary, Ostia SCS under Central Co-Operative Bank Ltd., Saranda Branch, Banki in Cuttack district for allegedly misappropriating loan repayment amount of Rs.11,83,718.
The money was collected by Mantri from loanees on different dates, but he not entered the same in the Day Book of Ostia SCS.
As the Bank sanctions loan to eligible loanees in different sectors, the loanees who happen to be the farmers had availed the crop loan from the bank earlier and repaid the loan amount on different dates over two years. But, Mantri was cunningly not taking into account the amount repayed by the loanees in the registers meant for the purpose. When some loanees came to know about the irregularities being committed by Mantri, they reported the matter to the Vigilance authorities, alleging the misconduct of Mantri.
An enquiry was taken up by Odisha Vigilance. During enquiry, it was found that Mantri, Secretary has siphoned off the loan repayment amount of Rs.11, 83,718 paid by 59 loanee farmers so far over two years. The no. of loanees may further go up.
In this connection, Odisha Vigilance has registered a case vide Cuttack Vigilance PS case No.3 dated 28.02.2025 U/s 13(2) r/w 13(1)(c)PC Act, 1988/409 IPC against the accused Sri Mantri, Secretary. Investigation into the case continues.
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