Nagpur: Bajan Nagar Police in Nagpur have registered a fraud case against former office bearers of Yavatmal Urban Cooperative Bank and three directors of Sirsikar Builders for misappropriation of funds of Rs 3.50 crore.
The complaint was filed by Pukhraj Govardhanram Mandan (47), a resident of Vishwakarma Apartment, Suraj Society, Prabhu Nagar, New Somalwada, who is involved in furniture business.
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According to police, Raju Sirsikar, the director of Sirsikar Builders and Developers, along with Vandana Sirsikar, availed a loan of Rs 5 crore from the Dev Nagar branch of Yavatmal Urban Cooperative Bank to construct a townhouse apartment in Mosam Society, New Somalwada. In 2016, Pukhraj entered into an agreement to purchase a shop in this apartment for Rs 20 lakh. He tendered a cheque of Rs 5 lakh and obtained the remaining Rs 15 lakh as a loan from the Indian Overseas Bank.
Pukhraj was issued a Demand Draft by the Overseas Bank in favour of Yavatmal Urban Bank, belonging to Sirsikar Developers and Builder. However, the bank credited this DD to Sirsikar’s personal account instead of the builder’s account. Similar to Pukhraj’s case, cheques from 14 other loan holders totalling over Rs 3.44 crore were deposited into personal current accounts and were deceived.
Following the fraud, Pukhraj filed a complaint at the Bajaj Nagar police station. The police conducted investigation and registered a case against the then director Raju Sirsikar, current director Vandana Sirsikar, Aditi Sirsikar, and the officials of Yavatmal Urban Cooperative Bank under Sections 406, 420, 465, 467, 468, 471 and 34 of the IPC.
