Rs 19-lakh lakh funds embezzled in 2 Jalandhar co-operative societies | punjab | Hindustan Times
Today in New Delhi, India
Jul 26, 2017-Wednesday
-°C
New Delhi
  • Humidity
    -
  • Wind
    -

Rs 19-lakh lakh funds embezzled in 2 Jalandhar co-operative societies

Police have registered separate cases against secretaries of the two societies under Section 408 (criminal breach of trust) of the Indian Penal Code.

punjab Updated: Jul 16, 2017 09:21 IST
Jatinder Kohli
(Representative Image)

Two cases of embezzlement of funds worth Rs 19 lakh have come to the fore in agricultural co-operative societies at Jandiala and Kangniwal in the district.

On the basis of an inquiry report of Ram Singh, inspector Phillaur circle of co-operative societies, the police have registered separate cases against secretaries of the two societies under Section 408 (criminal breach of trust) of the Indian Penal Code (IPC).

As per the report, Ranjeet Kumar of Patti Sanki village, secretary of the Jandiala Co-operative Agricultural Services Societies Limited, had pocketed deposits of society members or farmers and embezzled Rs 9.49 lakh.

The report further said that 10 farmers, who were registered as members, had paid the installments of their debts worth Rs 1.99 lakh, but the amount was not deposited with the bank by the secretary. When the records were checked, the amount was also found missing in the books.

Similarly, Rs 1.5 lakh was withdrawn from the account of Baldev Singh, a society member, on fake signatures and two fixed deposits (FD) worth Rs 8.5 lakh were opened by farmer Santokh Singh.

During inquiry, only Rs 2.5 lakh were found in the accounts and the remaining amount was embezzled.

Inquiry officer Ram Singh also detected bungling of funds worth Rs 9.5 lakh in the Kangniwal Co-operative Agricultural Services Societies Limited, where Jaswinder Pal of Cholang village was secretary.

In the FIR, Singh mentioned that as many as 17 farmers had paid the debt installments amounting to Rs 9.5 lakh, but the amount was not deposited in the bank and allegedly used by secretary Jaswinder Pal for his personal use.

For example, farmer Gian Singh paid installments of Rs 86,000, but an amount of Rs 82,250 was still pending against Gian in the society books.

Like Gian, Pritam Singh, Surinder Singh, Dilbagh Singh, Sukhdev Singh, Darshan Singh, Tarsem Singh, Nirmal Singh, Satnam Singh, Sukhdev Singh, Paramjeet Singh, Sohan Singh and others paid their installments but the balance is still pending in the account books against them.

Talking to Hindutan Times, Ram Singh said both secretaries have been dismissed in the wake of embezzlement.

He said the fraud came to light when farmers had been declared defaulters for non-payment of debt and the bank issued notices to them.

The farmers then stated that they had paid the amount and even showed receipts after which records were scanned and embezzlement detected, he added. Station house officer (SHO) inspector Kulwant Singh said though cases have been registered against both the secretaries, they are yet to be arrested.