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ICD scam: Charges issued to officer

THE STATE Government issued charge sheet to 1982 batch IAS officer S R Mohanty in the controversial Inter-Corporate Deposit (ICD) scam of the Madhya Pradesh State Industries Development Corporation (MPSIDC). Over a dozen charges have been levelled against Mohanty.

india Updated: Jan 13, 2007 03:09 IST
HT Correspondent
HT Correspondent
None

THE STATE Government issued charge sheet to 1982 batch IAS officer S R Mohanty in the controversial Inter-Corporate Deposit (ICD) scam of the Madhya Pradesh State Industries Development Corporation (MPSIDC). Over a dozen charges have been levelled against Mohanty.

During his tenure as Managing Director of MPSIDC, Mohanty extended loans to some companies which defaulted on repayment. Mohanty has been accused of ignoring required procedure and rules in extending loans to some companies.

Issuance of charge sheet to Mohanty before the Departmental Promotion Committee (DPC) meeting means that he might be denied promotion to principal secretary rank. The Commerce and Industry Department prepared the charge sheet which was issued after approval by the Law Department.

Under this scheme MPSIDC disbursed over Rs 600 crore loans to industrialists. Although a majority of the loans had been extended during the regime of M P Rajan, his successor, Mohanty continued to distribute loans to some of the defaulter industrialists.

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