Congress MLA Sunil Kedar, ex-chairman of Nagpur District Central Cooperative Bank and bilked of Rs. 150 crore in an investment fraud is up many tricks to douse the payment.
The state cooperatives’ department has passed an order to recover Rs. 299 crore from the Congress leader. As per the order, the Congress legislator has to pay up the dues within a month.
However, sources say, the Congress MLA is clever and he would employ deception to avoid paying the dues. He most probably would secure a stay and thus defeat the intention of the order, the sources say.
Kedar is reported to have already moved an appeal before the office of the minister of cooperation.
The action against Kedar has been initiated under section 88 of the Maharashtra State Cooperative Act. The latter stipulates that the management has to be held responsible if there is a fraud or negligence in a cooperative bank.
Sources keeping tabs on the affair assert if Kedar’s appeal is rejected by the cooperatives’ minister, the bank can move the High Court in the matter.
The bank’s chairman says he would soon hold a meeting and the recovery order would be a prominent item of business to be considered in the meeting.
