CUTTACK: State Vigilance on Thursday arrested the General Manager of Urban Cooperative Bank, Cuttack, on charges of conniving with an unscrupulous trading agency and providing it a hefty loan without following proper procedures.The Vigilance sleuths raided the office of General Manager Nilakantha Das, who has been produced before the court and remanded in judicial custody till September 7.According to Vigilance officials, Das was allegedly involved in extension of loan to the tune of Rs. 2.21 crore to one Shiva Chrome Chemicals Private Limited, Chandikhol, between 2000 and 2004 in conspiracy with owners of the firm as well as fellow officials of the bank.In his capacity as the then Chief Executive Officer (CEO) of the bank, he had disbursed Rs. 1.21 crore in 2000. Another Rs. 1 crore was subsequently extended in 2004. The loan was given without following proper procedures and adequate security. The papers of land mortgage and other documents were found to be forged. With the firm defaulting on repayment, the loan outstanding amount now stands at over Rs. 3.14 crore, Vigilance sources added.Acting on complaints, a case was filed in June this year and investigations were on. Along with Das, another CEO Rangadhar Dhuria, the then branch managers of Jagatpur branch Rabindranath Sahoo and Kalpana Pailt, managing director of the firm Rabindra Khuntia along with directors Sunil Khuntia and Archana Khuntia have been named in the case, SP Vigilance Cell, Cuttack, SB Mishra said.
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