28 Idco staff sacked for loan fraud, courtesy OTV

Bhubaneswar: The authorities of the Industrial Development Corporation of Odisha (IDCO) on Saturday initiated stern action against 28 staff by dismissing them from their service for their alleged complicity in taking loans from the Odisha State Cooperative Bank after submitting forged documents and signatures.

The action came in response to the news on violation of service rules by the IDCO employees aired by the Odisha Television on Friday.

Even the sacked staff had forged the signature of the then Idco CMD Priyabrat Patnaik.

They had taken Rs 1.5 crore loan from the State cooperative bank.

The investigation report revealed that around 36 employees had applied for loans from the Bhubaneswar State Cooperative bank.

However, the accused employees forged their salary certificates, recommendation letters, undertaking by (Drawing and Disbursement Officer) DDO, signatures of the guarantors and stamps required for the loan.

Startlingly, during inspection, the accused produced fake persons as Idco’s DDO and GM finance, the report stated.

After allegations, a departmental probe was done in which all of them were found guilty following which they were served notices.

Idco GM (P&A) Sushant Kumar Das said, “The corporation’s 28 employees were sacked by the CMD today after an inquiry found them guilty. Out of the total accused staff, 16 are Class-4 employees whereas 12 are Class-3.