Shajapur: Economic Offences Wing Books 25 Employees of 11 Agriculture Co-op Societies

Shajapur: Economic Offences Wing Books 25 Employees of 11 Agriculture Co-op Societies

The officials said that the cooperative employees had allegedly misused the funds sanctioned under the government loan scheme.

Staff ReporterUpdated: Friday, May 03, 2024, 12:41 AM IST
article-image
Representative Image |

Bhopal (Madhya Pradesh): Economic Offences Wing (EOW) has registered a case against 25 the then employees and officers of the 11-agriculture cooperative societies in Shajapur for allegedly committing Rs 88 lakh financial anomalies between 2000 and 2005.

The officials said that the cooperative employees had allegedly misused the funds sanctioned under the government loan scheme. The state government had launched a scheme wherein small loans were given to the marginalized to start their own business or improve their existing ones. The government had given a subsidy up to Rs 10,000 on loan amount. The employees skillfully prepared the papers in the name of the ‘ghost’ borrowers but this amount was never released and the cooperative employees proficiently siphoned off the subsidy amount.

In some of the cooperative societies, the loan proposals were prepared and the loan was sanctioned to borrowers, but the subsidy amount was taken from the beneficiaries immediately after the money was transferred into their account. The beneficiaries were then asked to repay the loan. In cooperative society Rath-bhanwar, one of the employees, Bhanwar Singh Devda, was transferred on December 11,2002.

He died on June 22, 2003 but his signed demand letter was presented in the cooperative bank and the amount of Rs 1 lakh was withdrawn. The EOW has found the involvement of the officials of Antyavasai Sahakari Vikas Samiti Shajapur, district Gramodyog Shajapur, officials of district cooperative societies and primary cooperative societies in the financial anomalies.

RECENT STORIES

MP Amarwada Bypoll: BJP Candidate Kamlesh Shah Files Nomination Paper

MP Amarwada Bypoll: BJP Candidate Kamlesh Shah Files Nomination Paper

In Limbo: BMC's Housing Projects Miss 5-6 Deadline Extensions; 7 HFA Projects Incomplete, Three...

In Limbo: BMC's Housing Projects Miss 5-6 Deadline Extensions; 7 HFA Projects Incomplete, Three...

MP: Airport Security Beefed Up After Threat Mail, Airliners Asked To Enhance Manual Checking

MP: Airport Security Beefed Up After Threat Mail, Airliners Asked To Enhance Manual Checking

MP Politics: Narottam, Arya, Jaibhan, KP Yadav Vying For Rajya Sabha Seat

MP Politics: Narottam, Arya, Jaibhan, KP Yadav Vying For Rajya Sabha Seat

Bhopal Power Cut Plan June 19: Power To Remain Disrupted In Vidhya Nagar, Gopal Nagar, Hoshangabad...

Bhopal Power Cut Plan June 19: Power To Remain Disrupted In Vidhya Nagar, Gopal Nagar, Hoshangabad...