Four cooperative officials including two assistant general managers were arrested on the charge of financial malpractices to the tune of ₹.1.70 crore here on Tuesday night.
The arrested were DCCB Assistant General Managers Maheswari and Gowser Banu, field manager Gunasekaran and NGO Manivel.
The commercial crime wing police said that the Department of Cooperatives lodged a complaint stating that there were financial malpractices in recovery of loan from 51 SHGs and 31 individuals in RM Colony.
A special team constituted by the bank detected that the loan amount repaid by the SHGs was not remitted in the bank account and loan amount was also not recovered properly. It submitted a report to the office of the Deputy Registrar of Cooperatives in this connection. Acting on a complaint lodged by Deputy Registrar Manigandan, Commercial Crime Police have registered a case against 159 persons including Dindigul Central Cooperative Bank General Manager Manavalan, Assistant General Managers - Nalla Perumal, Maheshwari and Gowser Banu, branch manager Munisamy, field manager Gunasekaran and NGO Manivel. Efforts were on to arrest the other accused, the police added.
