Dehradun District Cooperative Bank Former General Manager S C Bhatnagar has made several charges against the present GM Vandana Srivastava for disbursing loans in violation of the norms and indulging in misappropriations of funds.
In the wake of allegations levelled by Bhatnagar against the Present GM, Dehradun DCCB Chairman Amit Shah talking to Indian Cooperative said he stands with the present GM as she has not indulged in any misappropriation of funds.
According to Bhatnagar, the Present GM disbursed loans of Rs 20 lakh to the contract employee by violating the norms.
“The Bank GM has not violated any norms and the loan was given on collateral basis. There are two permanent employee guarantors and even the borrower (contract employee) mortgaged his land for acquiring the loan from the bank”, Shah said while denying the charges.
The former GM was also accused of buying the furniture worth Rs 10 lakh without tender for the new branch in Rishikesh AIIMS. Answering the allegations, Shah said who told him that we have purchased the furniture. Is he having any proof in this regard? he asked.
“The bank cannot open the branches if its NPA is more than five percent and the bank NPA till 31st March 2020 is 20 percent, said Bhatnagar who served the bank for over 30 years.
Shah replied, “It is a false allegation. We can open branches with existing staff members. I have the proof that when he was the General Manager the bank NPA was more than five percent. Even then the branch was opened. At that time where he was?
Meanwhile, Shah has accused Bhatnagar of harming the bank. Proving his argument, the bank Chairman said, “The Former GM sometime in 2017 had disbursed an education loan of Rs 14 lakh by violating the norms to the son of suspended Narendra Sharma who was the former branch manager of Sabzi Mandi branch of the bank. In order to save Sharma his friend Bhatnagar is making baseless allegations”.
“Bhatnagar also indulged in the misappropriation of funds. In March 2018 when he was the GM of the bank a land of one of the defaulters of the bank was auctioned. The land value was Rs 6.88 crore but they sold it at Rs 4.5 crore”, Shah accused him of taking bribes in this context.
Besides this, during his tenure he purchased the cash recycler machine at high prices but the bank did not need the machine, Shah charged.