Jharkhand News : The balance sheet of the Jharkhand State Cooperative Bank was allegedly manipulated to protect senior officials involved in a scam worth around ₹50 crore. An entry of nearly ₹16 crore under the “cheque purchase” head, which appeared in the 2018 balance sheet, was removed from the 2019 balance sheet. The scam is being investigated separately by the CID and the Enforcement Directorate (ED).
According to information, the state government had ordered an inquiry following complaints of a ₹50 crore scam in the Seraikela Cooperative Bank. The investigation uncovered several alleged irregularities, including loans granted to businessman Sanjay Dalmia in violation of banking rules and transactions carried out under the cheque purchase facility.
The government inquiry found that although the bank had no provision for cheque purchases, an amount of ₹15.44 crore was released to Dalmia under this arrangement in 2018. During the process, Dalmia reportedly claimed that he had been awarded contracts worth crores of rupees. He submitted an application to the bank stating that ₹16 crore could be deducted from his account once payments for the contracts were credited.
However, investigators found that Dalmia had not submitted any cheque to the cooperative bank. Despite this, the bank allegedly released the huge amount solely on the basis of his request or application. Moreover, the money was not credited to Dalmia’s account but to the accounts of other companies linked to him.
The investigation found that the cheque purchase amount was credited to the accounts of Pintu Engineering Construction Private Limited and SKM Infraventure Private Limited, both allegedly linked to Dalmia. During the government inquiry, the then bank officials also failed to provide all the relevant documents to the investigating team.
The inquiry team could not find the cheque that was supposedly the basis for the arrangement under which the bank would recover the cheque purchase amount once funds were credited to Dalmia’s account. The inquiry committee reportedly described the transaction as embezzlement involving bank officials and Dalmia.
Two separate FIRs were registered at the local police station in connection with the alleged embezzlement, naming several bank officials as accused. It is alleged that the bank’s balance sheet was later manipulated to cover up the scam and protect senior officials involved in the case.
According to available documents, Point No. 59 on the second page of the 2018 balance sheet recorded ₹16.29 crore under the cheque purchase head. However, in the 2019 balance sheet, the amount against the same Point No. 59 was shown as “00” (zero).
Significantly, the balance sheet contains no details showing repayment of the money advanced under the cheque purchase arrangement. The alleged manipulation is believed to have been carried out to protect some influential individuals linked to the case.
