Chargesheet filed against suspended MD of LDB

The Special Investigation Bureau of the police cooperative cell on Thursday filed chargesheet against Nawal Kishore,suspended managing director of the UP Land Development Bank

Written by Express News Service | Lucknow | Published:July 12, 2013 1:42 am

The Special Investigation Bureau of the police cooperative cell on Thursday filed chargesheet against Nawal Kishore,suspended managing director of the UP Land Development Bank,on charges of corruption and irregularities during his tenure between 2007 and 2012.

The government had handed over the probe into financial irregularities in the bank to SIB after the bank’s general manager (administration) Alok Dixit lodged an FIR in this connection at Lucknow’s Hussainganj police station on January 11.

The accused caused a loss of over Rs 5 crore to the government exchequer by indulging in corrupt practices and illegal activities,said Deputy SP of SIB AP Gangwar. He said that the chargesheet was submitted in the court of Special Judge (Anti Corruption) Vinod Kumar Srivastava. He also said that Kishore,who had obtained a stay order from the Lucknow bench of the Allahabad High Court against his arrest,will now be arrested as the court had ordered the stay only till the filing of chargesheet. A report in this regard was submitted in the court today,he added.

According to the chargesheet,Kishore ignored the directives of the Lucknow bench of the Allahabad High Court issued on September 14,2007 while hearing three writ petitions related to the bank. The court had ordered that no policy decisions related to the bank will be taken and the bank will not bear any financial burden. However,the chargesheet mentioned,Kishore made fresh appointments which included 253 branch managers,274 field officers,546 assistant field officers,370 accountants,876 assistant accountants and 49 peons and watchmen.

The investigation by SIB also found that Kishore went on official foreign tours sponsored by various companies as per guidelines of different departments of the Centre in 2009. There were clear instructions that the state will not bear any expense of these tours and no reimbursement should be entertained. But,Kishore collected a reimbursement of Rs 2.4 lakh against his tours from the bank.

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