The manager of a local branch of Chandrapur District Consumer Co-operative (DCC) Bank was among three arrested in connection with misappropriation of Rs 25 lakh in Warora taluka, police said today. | |
| "The Maharashtra State Cotton Marketing Federation, which is in the process of repaying share capital to cotton growers in the district, had issued a total payment of Rs 7.7 crore meant for disbursal among 35,000 cotton growers, but the local sales-purchase committee of co-operative department misappropriated Rs 25 lakh", said Superintendent of Police, Chandrapur, Ravindra Kadam. |
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| He alleged that these officials, in connivance with DCC Bank local branch manager DR Wagh, disbursed amounts less than what were encashed. |
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| About 27 persons were detained by the Warora police till last night, Kadam added. They have been booked under the relevant section of IPC for misappropriation. |
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| Police said the federation was disbursing share capital of three per cent to cotton growers drawn from about 197 villages in the Chandrapur district. A majority of the farmers were unaware of actual payment due to them. |
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| As per the provision, the federation makes payment to cotton growers through DCC Banks who utilise the services of the sale-purchase committee, police added. |
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