Embezzlement case: Court directs police for more investigation

 Embezzlement case: Court directs police for more investigation

JAIPUR: A lower court on Thursday directed police for further investigation' into the alleged embezzlement of over Rs 11.5 crore against the then board of directors of the Vaishali Urban Cooperative Bank. A complaint was filed in the Shyam Nagar police station on December 27 last year on the direction of the court by a concerned citizen. The complaint said that the bank's board of directors comprising of chief operating officer Amit Agarwal (JECRC), MD PC Jain, deputy manager Vijay Kala, manager (loans) Pradeep Jain,) and assistant manager Rahul Jain had embezzled money of the depositors for their personal aggrandizement. The board of directors was accused of investing the public money in shares and other dubious investments for their personal benefit. An investigation by the cooperative department has also established the embezzlement of Rs 11,55,40,474 fraud in the bank. However, police has given a negative report in the court stating that the complainant Sumer Singh is neither an employee nor an account holder in the

bank. So the complainant has not incurred any loss due to the irregularities in the bank and the complaint was closed. The complainant then approached the court of ADJM (4) court again. Counsels for the petitioner Prem Chand Devanda and Satyanarayan Prajapati pleaded that even if the complainant is not a directly affected party in the case anyone can set or put the criminal law into action. The court then ordered further investigation in the case.


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