The alleged Rs 347-crore irregular lending case involving Nashik District Central Cooperative Bank (Nashik DCCB) has taken a fresh turn after authorities ordered a re-inquiry, effectively setting aside the earlier inquiry report that had fixed responsibility on 44 former and serving directors and officials, according to a media report.
The earlier inquiry, conducted over nearly two-and-a-half years under Section 88 of the Maharashtra Cooperative Societies Act, had reportedly held 44 individuals responsible for Rs 182.03 crore in alleged losses arising from irregular loan disbursements. The proceedings had progressed to property attachment notices against some of those named.
The case primarily concerned loans extended to several prominent institutions in the district, with the inquiry pointing to alleged procedural and financial irregularities.
The decision to order a fresh inquiry has raised questions over the findings of the earlier report and the circumstances leading to its cancellation. It also remains to be seen whether the fresh probe will alter the responsibility fixed earlier.
The development is being closely watched in Nashik’s cooperative and political circles.
