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Friday, August 5, 2022

    Former Mangaldoi UBI Branch Manager Arrested Over Alleged Irregularities In Loan Disbursement

    Guwahati, August 2, 2019

    The former branch manager of the Union Bank of India, Mangaldoi has been arrested by the Bureau of Investigation Economic Offences (BIEO) on August 2nd, 2019.

    The accused has been arrested on the basis of an FIR submitted at BIEO by the officials of  Union Bank of India, Regional Office, Chandmari alleging serious irregularities in several dairy loan accounts.

    “During the investigation, it has been found that the former Branch Manager allegedly flaunted basic norms and guidelines laid down by the bank while disbursement of loans and the loans were diverted for purposes other than for what they were sanctioned,” a press communiqué stated.

    As per the communiqué, the loans were also sanctioned without proper verification of documents and it is found that there is a criminal conspiracy between the arrested Bank Manager Surjya Baroowah and the persons availing the loans. All the loans were sanctioned and disbursed for dairy farming under NABARD Dairy Scheme by him.  The arrested accused person has been picked up today from Kharupetia in Darrang district.

    A case (BIEO Case no 15/2018) under sections 120(B), 420, 406 and 409 of the Indian Penal Code (IPC) has been arrested against the accused.


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    First published