Jammu, Nov 20: Jammu and Kashmir Anti-Corruption Bureau (ACB) team on Wednesday registered a case against a former Bank Manager of the Devika branch of Urban Cooperative Bank Ltd in Udhampur district.
An official spokesman said that verification was conducted by the Jammu and Kashmir ACB on receipt of communication from the Chief Executive Officer, of Devika Urban Cooperative Bank Ltd. Udhampur regarding misappropriation as well as frauds committed by one Amit Gupta, then Branch Manager, Devika Urban Cooperative Bank Ltd. Chenani.
The verification revealed that Amit Gupta remained as Branch Manager of Devika Urban Cooperative Bank Ltd. Chenani from 2014 and during his tenure, he was indulged in various illegal acts like the opening of fictitious accounts, withdrawal and transfer of funds from different accounts (including unadjusted accounts without any authentication), disbursement of loan amount without approval, enhancement of CC Limits without approval, diversion of funds under various heads, disbursing of demand loan without security as well as failure in safeguard of security obtained in loan cases.
It surfaced during verification that an amount of ₹1,76,56,363/- has been misappropriated by him. Out of the misappropriated amount, ₹1,52,87,907/- stands recovered and adjusted by him.
He said that an amount of ₹23,68,456/- is still recoverable.
During verification, Amit Gupta contended that he was guided by some other senior officers of the Bank who forced him to make advances, use product OD (Over Draft) against deposits without obtaining any security as well and create fixed deposits in the staff category to get the staff benefits in rate of interest. The role of other such officers is to be looked into during the investigation, the spokesman added.
An inquiry was also conducted by the Bank in respect of misappropriation and frauds committed by Amit Gupta and the management of the Bank terminated his services.
A case has been registered in Police Station ACB Udhampur and investigation was taken up after obtaining a Search Warrant from the Anti Corruption Court Udhampur, the Team of ACB also conducted searches in the house of Amit Gupta at Udhampur.
Further investigation in the case is going on, he said.
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