Sangli district bank's past and present directors cleared in alleged ₹82 crore irregularities case

Sangli: All past and present directors and former officials of the Sangli District Central Co-operative Bank have been cleared in the case of alleged irregularities worth ₹82 crore. Inquiry officer and retired judge M.R. Makhare found that not a single charge had been proved and closed the case for lack of strong evidence under Section 88 of the Maharashtra Co-operative Societies Act, 1960, and Rule 72.

The decision is a relief for NCP leader and MLA Jayant Patil and the bank's other past and present directors, and is seen as a setback for BJP MLAs Sadabhau Khot and Gopichand Padalkar, who have levelled allegations against the bank over the case for the past two years. It had been a main plank of the opposition's campaign in the bank's ongoing five-yearly election.

The co-operation department began the inquiry on a complaint by farmer leader Sunil Pharate against the previous board. It was stayed by the then co-operation minister on the directors' appeal and resumed after Khot and Padalkar demanded in the legislature that the stay be lifted. Losses of about ₹50.59 crore were initially alleged in four matters; six more were added later, taking the total to about ₹81.91 crore.

Makhare had already cleared those concerned in seven of the ten matters, involving losses of about ₹65 crore. In the remaining three, on computer purchases, furniture and advertising, 57 people including directors had been charged over alleged losses of about ₹16.59 crore. After completing the hearing, Makhare has given his final ruling, clearing everyone in those as well.

Sources: Loksatta; Pudhari