Report gathers dust in swindling of Rs 2 crore in Cooperative bank for more than two years

Y.S.Rana | April 01, 2019 05:20 PM

CHANDIGARH: Yes, this is a clear case of money laundering, says the general manager, the Chandigarh State Cooperative Bank Limited, Sector 22, Chandigarh, in his fact findings report in swindling of approximately Rs two crore by the then chairman of the bank, Mr Kamal K Sharma in connivance with the bank staff. The report was submitted in office of the Registrar, Cooperative Societies, Chandigarh on February 13, 2017 has also revealed blatant violations of rules and laws. The report is gathering dust in the debris of files for the past more than two years.

Copy of the report with Daily Post has pointed out that while opening an account (No 001134002100002) of the Bank Employees and Friends Coop House Building Society Limited registered at Saketari in Haryana seemed to be either a bogus account or tainted with willful interests as the society was registered in Haryana, it should have its account only in Haryana not in Chandigarh. It further states at the time of opening account no list of members was attached; no approval was sought from the office of the registrar, cooperative societies, Haryana; no proper resolution of the society in this respect and there was no proper address of the society.

It further reveals that the society maintained an FDR account No 0011360251000015 dated 4.6.2014 of Rs 2.09 crore for 12 months at the rate of 9.10 per cent interest. At different occasions purposefully loans were obtained without completing any formalities. Loan of Rs 75 lakhs against the FDR was debited in the account of Mr Kamal K Sharma and credited in the saving account of Mr Santosh Sharma (No 10932855840) through RTGS at SBI branch, Puram, New Delhi.

Another loan of Rs 75 lakhs against said FDR was first transferred to society’s account and then transferred and then transferred to different account numbers as per transfer voucher dated 23.8.2014. Rs 20 lakhs was transferred in the account of Sudha Gupta (No 3462009900000241) through RTGS. Balance amount o Rs 55 lakhs was transferred in the accounts of Pardeep Sharma (No 32257724514); Mamata Sharma (000334001100095); Neha Sharma (No 000334001100098); Abhishek Sharma (No 000334001100099); Jagtar Singh (No 000334001100205); Dilbagh Singh; Gurmeet Singh; Sameer Choudhary; Surjit Choudhary; Kamal Kant Sharma and Jatinder Singh. It is also stated in the report that beneficiaries of this “freenies” are family members of Kamal Kant Sharma and three bank employees.

Loan of Rs 15 lakh was availed against said FDR on 8.9.2014 credited in the account of Kamal K Sharma and then transferred to different accounts of Mr Varinder Kumar (Rs 4 lakh); Gurinder Singh (Rs 4 lakh); Kuldeep Kaur (Rs 4 lakh); Sonika Sharma (Rs 3 lakh). Notably, beneficiaries of this ‘loot’ either close relatives of Kamal K Sharma or bank employees.

The report also substantiated that huge amount was transferred from Society’s account to various beneficiaries. The report also states that the employees of the bank have clearly stated in their undertaking all is done under the threat and influence of Mr Kamal K Sharma, the then Chairman of bank as he has ‘baton’ to punish the employees. They have also revealed that amount credited in their account has been withdrawn and handed over it to the chairman.

Earlier, a few members of the Chandigarh Local Employees and others USE Coop Society Limited had complained to the Secretary, Cooperative Societies, Chandigarh against misuse of society’s fund by Mr Kamal K Sharma in 2008.   
The Chandigarh Administration tall claims about cracking down corruption dashed to the ground when cases of corruption continue to pile up in departments. There does not seem a silver lining in the dark clouds of corruption because of sharp downfall in ethical ambience and governance mechanism.

Have something to say? Post your comment