Bhopal: Housing society board of directors booked for Rs 51 lakh bungling

BHOPAL: The Economic Offences Wing has registered a case against the board of directors of Panch Seva Housing Society for siphoning off more than Rs 51 lakh of the society.

Those who have been booked includes  housing society president Anchit Goyal, vice presidents Jyoti Goyal and Anjali Agarwal, directors Manoj Jain, Ashok Goyal, Shayam Kumar Soni, Prahlad Das, Narendra Rai, Ajay Garg, Jagmohan Garg and others under section 409,420 and 120-B of IPC.

The SP EOW, Rajesh Mishra informed that housing society owned 44.56 acre land in Berkhedi area. It is alleged that the president of the society along with the vice president and directors sold out the land to 98 buyers, however, failed to deposit the amount in society’s bank account. The society has an account on Cooperative Bank, TT Nagar branch. The entire land was purchased in the year 2001, and the irregularities were committed between 2009 and 2012.

The money from the buyers was taken in two parts, one for the land and the second for the land development. A sum of Rs 11,17,298 was collected as a land cost and Rs 40,55,200 came against land development. The total amount Rs 51,72,498 collected was not deposited in the bank account from March 1,2009 to March 31,2012.

The cooperative department had conducted an inquiry into the matter and found the financial irregularities.

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