One of many administrators named within the FIR is already lifeless. (Representational)
Ghaziabad:
Twenty-four administrators of Ghaziabad’s now defunct Mahamedha Cooperative Financial institution have been charged for allegedly misappropriating round Rs 100 crore, in keeping with an FIR lodged in Ghaziabad.
The case was lodged following an audit by an organization engaged by the Cooperative Division. The corporate in its report named the errant administrators and officers.
In a criticism to police, Cooperative Division Assistant Commissioner and Registrar Devendra Singh alleged the financial institution officers sanctioned loans to ineligible prospects. He stated Rs 99.85 crore was embezzled.
Devender Singh stated properties of seven individuals who took hefty loans from the financial institution have been hooked up. Properties of different debtors may even be hooked up, he stated.
The case will likely be investigated by the cooperative cell of the UP police, SP (Metropolis) Abhishek Verma advised PTI.
One of many administrators named within the FIR is already lifeless.
The permission for working the financial institution was granted on February 27, 2001 by the Reserve Financial institution of India.
Its licence was cancelled in 2017 because of irregularities.
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