iconimg Monday, August 31, 2015

HT Correspondent, Hindustan Times
Bhopal, June 26, 2013
The state government on Tuesday issued sanction to prosecute Apex Bank chairman Bhanwar Singh Shekhawat and eight others for ‘ wrongful’ settlement of loan of IAS Ramesh Thete’s wife Manda. Special police establishment of Lokayukta had sought sanction to prosecute them in February.

According to Lokayukta officials, SPE had registered an FIR against eight persons including Manda in October 2013.

Shekawat’s name was included during the investigation, after it found that he had approved the loan settlement against rules and regulation.

The case under prevention of corruption act 1988 has been registered against Manda Thete, Apex Bank deputy general manager ( DGM) Keshav Deshpande, Apex Bank managing director, RB Bhatti, accountant HS Mishra, bank’s legal advisors OP Patidar and SL Lodha, Arvind Singh Sengar, Sushil Mishra and other officers.

In violation of set rule, Apex Bank had given a loan of Rs. 25 lakh to Manda in 2001. She failed in repaying the loan.

The loan amount accumulated to Rs. 93 lakhs including interest accrued on the principal. When she failed to repay the installments despite notices, a case of cheating was registered against her by the bank.

But bank officials, notwithstanding the fact that a case was already registered against her, they entered into an understating with Manda and settled the issue of loan in return of Rs. 53 lakh.

According to the SPE officials, the legal advisors submitted a false legal opinion to the bank that paved the way for clearing obstacles in the settlement.”

SPE officer said that bank officials have done it against the rules.