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Home Co-op News Snippets

Lokvikas Urban Co-op Bank: Jadhav questions FIR

Parasnath by Parasnath
July 8, 2015
in Co-op News Snippets
0
RBI cancels License of Vitthal Nagari Sahakari Bank
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BJP`s district president (rural) Eknath Jadhav, Aurangabad in Maharashtra said he wasn’t the chairman of Lokvikas Urban Cooperative Bank when Rs 55 lakh was allegedly embezzled between October 2012 and December 2013.

Jadhav questioned the authenticity of the letter issued by the Reserve Bank of India (RBI) asking the present body of the bank to register an FIR against him, reports Times of India.

The complaint was lodged after the RBI found irregularities in the bank during a recent audit. Jadhav said he has been falsely implicated in the criminal case by his detractors, including a former chairman of the bank.

Jadhav alleged that the person in question was the chairman when the alleged wrongdoings took place at the bank between October 31, 2012 and December 21, 2013. Jadhav said the former chairman and one of his relatives were granted a loan of Rs 5 lakh by the bank, which they didn`t repay.

“Instead, the former chairman diverted Rs 5 lakh from bank`s profit to the loan account showing it as refund.

Tags: bankcooperativesEknath JadhavFIRLokvikas UCBmaharashtrarbi
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