Five held for approving loan in dead man's name in Punjab's Hoshiarpur

Hoshiarpur: Two current and three ex-employees of a cooperative bank here were arrested for allegedly being involved in approving a loan in the name of a dead man, the Punjab Vigilance Bureau said on Monday.

The accused were identified as assistant registrar Yudhveer Singh, clerk-cum-cashier Ravinder Singh, retired cashier Manjit Singh, and retired managers Avtar Singh and Paramjit Singh.

The VB spokesperson revealed that the arrests had been made following an investigation into a complaint against Ajaib Singh, the secretary of the cooperative bank in Dhuga Kalan, and two other people, who had been already apprehended.

In 2018, a corruption case was registered against Ajaib Singh for securing a loan of Rs 1.92 lakh in the name of Gulzar Singh, a deceased member of the cooperative bank.

The complaint, lodged by Gulzar Singh's nephew, led to a VB probe.

It was found that Ajaib Singh had repaid the loan to the society and subsequently secured another loan of Rs 1.90 lakh.

After an investigation, it was discovered that the five men, who have now been arrested, had conspired with Ajaib Singh and two others for approving the loan in the name of Gulzar Singh, the spokesperson said.