Chimala Jagadish Yadav, Chairman, Gokul Cooperative Urban Bank, was arrested by officials of the Central Crime Station (CCS) for misappropriating money from Meesava accounts and cheating the Communications and Information and Technology Department of Telangana government.
In 2004, the Gokul Co-operative Urban bank was given permission to establish the e-seva facility as on a pre-paid franchisee model with upfront payments of amounts involved towards government charges in an agreement with the ESD Department. The ESD department opened a current account in Gokul Bank for money received from e-seva transactions to be credited in that account.
Between December 18 to October 5, 2015, Rs.9.13 crore in payments made by citizens towards government charges were credited into that account, which was not cleared from there by the ESD Department.
Taking advantage of that, certain office-bearers of the bank used that money to issue loans and also took loans for themselves towards business, gold etc without offering substantial securities. They also utilised the money for their personal use, causing a deficit in the bank account. Due to that, Gokul Co-operative Urban Bank failed to clear dues of the ESD Department.
Of the Rs.9.15 crore, cheques worth Rs. 3.03 crore were not cleared to the ESD department till date, causing a loss to the State government. Prior to this, another official of the bank was also arrested by the CCS police to the same crime.
