Case of misappropriation of gold loan in ANSCB: Cooperative Bank rubbishes allegations leveled by Vishal Jolly


Port Blair, Feb 05: The Andaman Nicobar State Cooperative Bank (ANSCB) today rubbished all the allegations leveled by Mr Vishal Jolly, the president of A & N State BJP Unit recently regarding involvement of ANSCB in the case of misappropriation of Gold Loans.
Addressing a Press Conference the Vice Chairman of Andaman Nicobar State Cooperative Bank, Mr Kuldeep Rai Sharma today categorically refuted all the allegations leveled by Mr. Jolly with proper data and documentary evidences and said that the bank is financially very strong and even has surplus funds and therefore there is no threat to the customers. Sharing data, Mr. Kuldeep Rai Sharma said that as per RBI Guidelines ANSCB must maintain a minimum liquidity amount of Rs. 210 crores on a daily basis, while the bank is maintaining Rs. 252 crores and there is an additional excess of surplus fund of Rs. 211.34 crores. Regarding demand of CBI inquiry in Andaman Nicobar State Cooperative Bank gold loan misappropriation case, Mr Kuldeep Rai Sharma said that he has full faith on A & N Police Department but he also added that he fully endorse the demand of BJP State President of CBI inquiry in this entire matter so that the real picture comes out in front of public.
“The bank also demands CBI inquiry in this case,” he said. Mr. Kuldeep Rai Sharma said that Mr Vishal Jolly has actually tried to take political advantage out of the entire situation by tarnishing the image of Andaman Nicobar State Cooperative Bank with wrong data. He said that Mr. Jolly tried to blow the entire matter out of proportion to show public that he has himself detected this case but the truth is Andaman Nicobar State Cooperative bank itself detected the misappropriation and it was the bank which had file the first FIR in police department and demanded thorough inquiry.
Mr Kuldeep Rai Sharma added that the first case of misappropriation in gold loan was detected in Dollygunj branch on 24.11.2017, second case was detected in Prothrapur branch on27.11.2017, third case was detected in Garacharma I branch on 28.11.2017, fourth case in Garacharma II branch on 29.11.2017 and the fifth case was detected on 30.11.2017 at Haddo branch.
According to Mr. Sharma the first FIR was lodged in PS Pahargaon on 1.12.2017 against the authorized gold appraiser of the bank, Mr. M P Shakthivel and the gold loan borrower while the second FIR was lodged on 4.12.2017 at PS Chatham. “Hence it was the Cooperative Bank which detected the case and lodged the FIR and not Mr. Jolly,” Mr. Sharma added. Smelling conspiracy behind the recent BJP Press Conference, Mr. Sharma said that the Press Conference was called only to take political mileage out of the entire situation.
Regarding allegation of using the ANSCB money and Banks’ employees/DRMs for politics as well as election campaign, sanction of loans to defaulters, One Time Settlement (OTS) on political ground, use of fund under ‘Other Expenditure’ head for personal tours of Chairman as well as Vice Chairman of ANSCB including foreign tours etc., Mr. Sharma said that this is not the first time when such allegations are leveled against the Bank.
“In 2015 based on a complaint filed by Bharatiya Janta Yuva Morcha unit of Andaman to the RBI Governor, Prime Minister, Mr. Narendra Modi and Home Minister, Mr. Rajnath Singh on these points. Following the complaint an inquiry was conducted by the RCS Department and in all points the RCS Department gave clean chit to the bank,” Mr. Sharma said, adding that raising these points again in Press Conference shows that the BJP is trying to mislead the customers of ANSCB.
Replying to Mr. Vishal Jolly’s demand to file 150 separate cases against all the accused in separate Police Stations, Mr. Sharma said that perhaps Mr. Vishal Jolly was fed with wrong information as the number or cases in this matter is only 134 and nowhere in the world the accused file FIR in Police Station. “In every case only victim files the FIR and in this matter the victim is Andaman and Nicobar State Cooperative Bank,” he said.
Regarding the claim that Rs. 17 crores has been siphoned off in Gold Load Misappropriation in 2014-2015 financial year, Mr. Sharma said that instead of the fact that Mr. Jolly is well educated person, he has failed to provide correct figures to the press.
“In 2014-15 total 5463 cases gold loan were issued worth Rs. 36 crores, in which 4089 cases were appraised by the same appraiser, who is the main accused in this case. The total worth of these 4089 gold loan cases is Rs. 27.85 crores. Out of this entire cases only in 134 cases fake gold were used and value of these 134 cases is Rs. 5.28 crores, in which Rs. 3.63 crores is principal amount while Rs. 1.65 crore is the interest amount,” he said.
Regarding the demand of Mr. Vishal Jolly about making the Gold Loan data of 2016-17 to public Mr. Sharma said that this is the look out of Police Department as the case is under investigation. He said that in all cases of 2016-17 bank is getting regular repayment and there are no overdue.

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