Crime Branch to probe financial irregularities at Coop Bank

Rourkela: The department of Cooperation has asked the Economic Offences Wing (EOW) of Crime Branch to probe financial irregularities to the tune of Rs 29.57 crore in Odisha State Cooperative Bank (OSCB), Rourkela branch between 2005 and 2015.

Based on the report of a special audit, Cooperation Minister Surya Narayan Patro, today, has also ordered the bank registrar to initiate surcharge proceeding against all accused and directed OSCB Managing director to initiate legal action against erring bankers.

A press release issued by the minister stated that a special public prosecutor will be appointed to start trial against the loan defaulters and legal process initiated soon to attach their properties.

The report of the special audit also recommended recovery of Rs 65,427, Rs 67.5 lakh and Rs 28.89 crore from three former branch managers Siba Kumar Das, Sanjeeb Mishra and Raghunath Sahoo respectively for showing undue favour to the loanees. The irregularities occurred during the tenure of these three managers.

On the other hand, former manager Raghunath Sahoo found no such irregularities. “As far as my knowledge is concerned, there is no such irregularities taken place. Is it an irregularity if somebody deliberately cheats bank after availing loan?. Based on which data, the audit report has been prepared. It should be examined”, he added.