Bhopal (Madhya Pradesh): The Economic Offences Wing (EOW) has registered a case against bank officials and four suppliers over an alleged Rs 9.70 crore fraud involving loans for polyhouse construction.
The loans were sanctioned in the names of 33 farmers and the amounts disbursed to polyhouse construction agencies, but only three polyhouses were constructed, officials said.
In Khargone, the then manager of a nationalised bank, KK Sarvete, sanctioned loans to 33 farmers to construct polyhouses. The sanctioned loan amount was Rs 7.80 crore.
In one case, the land use of the mortgaged land was changed and another loan of Rs 1.90 crore was sanctioned. In the process, the total loss of Rs 9.70 crore was assessed by bank officials, said the EOW.
The findings
A total of 33 loan applications amounting to Rs 7,80,85,000 were submitted to a bank branch in Khargone for loans under the National Horticulture Mission to construct polyhouses.
The bank disbursed the sanctioned loan amounts to the private firms and their partners without the polyhouses actually being constructed. Agriculture Solutions Private Limited was supposed to construct five polyhouses.
However, the company constructed three and submitted fraudulent completion certificates for all five and withdrew the amount.
M/s Kisan Agro was tasked with constructing 20 polyhouses, but none of them was constructed and the amount was withdrawn.
M/s Siran Techno Private Limited was selected to construct eight polyhouses, but none was constructed and the money was withdrawn.
Prima facie, all work completion certificates examined during the inquiry were found to be forged.
The inquiry revealed that out of the 33 polyhouse loan cases, there were three instances where the work completion certificate submitted was dated the same day the loan amount was disbursed.
In 12 loan cases, the work completion certificate was submitted, but the amount was given before that date.
In 16 loan cases, the work completion certificate was submitted before the loan was sanctioned.
The inquiry established that fraud was committed against these 33 farmers, their land documents were obtained, loans were sanctioned in their names and payments were made to the private firms.
