MP Nagar police arrested a bank manager from Patiala of Punjab on the charge of approving subsidy in business loan. He was absconding for the past three years in the case.
With the arrest of the absconding accused JS Mehra identified as a total of five persons have been arrested in the case.
Modus Operandi of the accused was to take commercial loans with the help of other private people and employees of the District Trade and Industry Center and a 25 percent subsidy was distributed among the accused while the remaining amount was repaid.
Earlier, Ganesh Mankar approached the MP Nagar police station and lodged a complaint that when he went to the State Bank for a loan in the year 2017, he came to know that a business loan of Rs 2 lakh was availed in his name in Oriental Bank branch Habibganj and bank had declared it NPA.
The then Oriental Bank Habibganj branch was located in Bhopal and the victim got information that in the year 2010 a business loan (for readymade garments) of Rs 2 lakh had been taken in his name.
Loan amount of the applicant was provided to Disha Traders , on the basis of which the police account holder Jaya Batham of Disha Traders revealed that bank manager and officials were involved.
Vinod Kumar Peswani, the then loan officer of Oriental Bank was arrested by the police who revealed the loan was sanctioned by Rakesh Batham and based on information he was arrested. Rakesh Batham told the police that the bank manager took loan and he was provided with his share from the subsidy.
The main accused JS Mehra was retired from Patiala Branch Punjab in the year 2020 and after retirement, even after having his own house in Bhopal, the accused resided in a rented house in Patiala Punjab to escape from the police.
During interrogation Mehra revealed details of his associate Manohar Advani was arrested by the police on September 19.