House of Kangra coop bank General Manager raided in Una

UNA: The Vigilance and Anti-Corruption Bureau teams on Wednesday raided the residence of General Manager of Kangra Central Cooperative Bank (KCCB) at Una, Ashok Puri, and manager of the branch , Kamal Bhogal, for extending a loan of Rs 3.46 crore to a real estate  developer in Una in violation of norms.

The teams led by Additional SP (Vigilance), Sagar Chander, raided the premises of bank officials. Sources here said the vigilance teams recovered some documents from the residence of accused officials.

A case under Sections 420, 467, 468, 471 and 120 B of the IPC and Prevention of Corruption Act against the accused bank officials and Indu Bala, the real estate developer, had been registered.

The case has been registered on the orders of the DR Thakur, Special Judge, Una. The Special Judge had ordered the registration of the case on a complaint.

The Una management of the KCCB had already been under the scanner. The former MD of the bank, PC Akela, had raised question marks over Rs 62.72- crore loan and CCL to Crest Steels, Una. Vigilance in an inquiry ordered by the government had indicted various officials of the bank and had accused them of wrongdoing in sanctioning of various loans that later caused loss to the bank.

The state government was sitting over the inquiry into bad loans extended by the KCCB during the stint of the previous Congress government. The Dharamsala vigilance and anti-corruption bureau had sent the inquiry report to the state government in January. The sources said the vigilance inquiry had indicted the bank managers, members of loan sanctioning committee of the previous board of KCCB and evaluators for a criminal conspiracy extended risky loans that caused losses to the bank.