MP News: ₹82.4 Lakh FDR Fraud; FIR Against Private Firm Official, Ex-Bank Officer | Representative Image
Jabalpur (Madhya Pradesh): An FIR has been registered against a project officer of a private firm and a former bank official for allegedly fraudulently liquidating fixed deposits worth Rs 82,40,914 in favour of a contractor, causing financial loss to the State government exchequer.
According to the police, the action was taken on a complaint of NVDA’s Narmada Development Division, No. 02, Panagar executive engineer Vinendra Kumar Bhaladhare submitted with the Panagar Police Station on January 5 last in this regard.
The police have registered the FIR against KV Malaish, project manager M/s Karnataka Land Army, Bangalore (present Karnataka Rural Infrastructure Development Limited, Bangalore) and the then bank officer Corporation Bank branch, Jabalpur (after merger presently Union Bank branch, Madhatal Civic Centre, Jabalpur) of cheating and criminal breach of trust.
The Executive Engineer in the complaint submitted that the construction of the Kund distribution canal and its distribution canal system under the Narmada Development Division was awarded to the contractor, Messrs. Karnataka Land Army, Bangalore, through a tender approved on October 2004.
However, due to the contractor’s failure to complete the work within the stipulated timeframe, the department cancelled the contract and after proceedings the two bank guarantees deposited by the contractor were confiscated.
In June and August 2023 the executive engineer had written to the bank twice to encash two FDRs Rs.44,83,866 and Rs 37,57,048 deposited by the contractor where the bank informed that the FDRs are already encashed in year 2015 and the amount of the FDR had been transferred to the contractor’s account.
Thereafter the executive engineer sought explanation from the bank as the original FDR was with the office. The executive engineer sent letters to the Regional Bank, Jabalpur on 09-02-2024 and 06-06-2024 and after investigation, it was found that the Branch Manager, of a nationalized Bank at Madhatal Civic Centre, had fraudulently paid the FDR amount to the contractor, causing a huge loss to the government.
