Excelsior Correspondent
JAMMU, Aug 3: CBI/ACB Jammu today presented challan against Tilak Raj Dogra, former Senior Manager Bank of Baroda Gandhi Nagar, Yash Raj Singh, Prop M/s Modern Agro Tech, Khema Kumari, wife of Yash Raj Singh, Surjeet Singh, son of Jaswant Singh of Nai-Basti, Janak Singh and Mohd Iqbal of Jogi Gate in the court of Special Judge Anticorruption CBI.
According to challan, TR Dogra, the then Branch Manager presently Senior Manager Bank of Baroda Gandhi Nagar Branch in criminal conspiracy with Yash Raj Singh, Prop M/s Modern Agro Tech and some unknown persons illegal got processed and disbursed a loan of more than Rs 2 crore in favour of M/s Modern Agro Tech by abusing his official position.
It was further mentioned in the FIR that in the month of November, 2006 Yash Raj Singh applied to secure credit facilities in the nature of working capital limit to the tune of Rs 7.77 lakh and term loan facilities for building and machinery to the tune of Rs 222.39 lakh in order to set-up Mushroom Plant and in this regard submitted a written application to the Bank of Baroda Gandhi Nagar Jammu Branch where TR Dogra was the Branch Manager.
Dogra, who was required to got economic viability and technical feasibility of the project checked, ignored the vital process of pre-sanctioned inspection and even didn’t furnish comments on the valuation of the properties offered to be mortgaged.
On the basis of his recommendation, Regional Office Bank of Baroda Chandigarh sanctioned loan of Rs 9.60 lakh as working capital limit and Rs 213.14 lakh as term loan to Yash Raj Singh. During the investigation, it also came to the fore that a total of Rs 98 lakh have been diverted from M/s Modern Agro Tech to M/s Rightways Industries, another proprietorship firm of Yash Raj Singh. The verification of end use of fund has also not been done as required because of the connivance among the accused and funds were diverted or siphoned off resulting in the account turning into NPA with a total outstanding of Rs 242.16 lakh as on June 30, 2010.
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