Baripada: The Special Judge, Vigilance Court in Baripada Thursday found four individuals, including three employees of an urban cooperative bank, guilty of committing bank loan fraud and sentenced them to undergo three years of rigorous imprisonment (RI).
“Asutosh Mohanty, Former Branch Manager (disengaged), Baripada Urban Co-operative Bank Limited, Rairangpur Branch, Kantilal Mugree, Former Chief Executive (Retired), Baripada Urban Co-operative Bank Limited, Baripada and Krupasindhu Mohanta, Ex-President, Baripada Urban Co-operative Bank Limited, Baripada and Salil Agarwal (Loanee) from Rairangpur in Mayurbhanj district, who were charge sheeted by Odisha Vigilance in a case U/s 13(2)r/w 13(1)(c)(d) of PC Act 1988/418/ 420/120-B IPC for misappropriation of government money over RS 15.58 lakh in connection with a loan fraud case, were convicted by Special Judge, Vigilance, Baripada,” the Vigilance wing of state police said in a statement.
The three accused bank officials had favoured the loanee Agarwal and disbursed the loan amount in his favour on the basis of fabricated documents and inadequate security, violating the conditions of the loan policy of the bank, it further said.
The court sentenced each convict to undergo rigorous imprisonment for a period of three years and imposed Rs 30,000 fi ned on each of them. Odisha Vigilance will now move the competent authority for stoppage of pension of the convict, Kantilal Mugree, following his conviction, the anticorruption wing said.
