Sidhi Loan Scam: Probe ordered into fraud committed in name of tribals

BHOPAL: Sidhi district administration has constituted a team to investigate the loan fraud committed in the name of tribals. Around 150 tribals of Sidhi district were cheated by fraudsters who took loans from the cooperative societies and banks in their names.

The issue came to fore when the innocent tribal got the notice from the societies to deposit the tractor loan amount and if they fail to do so their tractors will be seized.

The worried tribals approached local BJP, MLA Kedarnath Shukla seeking investigation into the fraud. Talking to Free Press, Shukla said that in the primary complaints 132 tribals came and raised the issue that someone had taken loan in their names and now they were getting notice from the banks. The matter was reported to the district administration for the investigations.

The collector Sidhi, Rajendra Kumar Choudhary said that a four member team has been formed to investigate the case, headed by the ADM (IAS), Harshal Pancholi. In the primary investigation, it has come to fore that 142 people have been cheated. The tractor loan was taken in the names of triblas†from the cooperative societies and banks between† 2010 and 2013.

Around 1000 tractors were financed fraudulently

Meanwhile, sources informed that for the last many years the racket is operating in the region which is taking loans in the names of tribal and innocent people. Around 1000 tractors were financed fraudulently. The volume of the cheating may cross Rs 100 crores. Notably, the rate of NPA of the cooperative societies and banks is around 80 per cent. The societies and the banks had given the loan side-lining the norms. It is alleged that a nexus between bank officials and cooperative societiesí directors led to the racket.

Interestingly, in many of the cases, the sanctioned loan for the tractor was not given to the tractor agencies. And in some cases the loan money was given to the distributor but the tractor was not delivered. The agency kept its share and returned the rest of the amount to the racketeers.

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