The A.P. State Commissioner for Cooperation and Registrar of Cooperative Societies has placed CEO of Vizianagaram District Cooperative Central Bank V. Siva Sankara Prasad under suspension with immediate effect pending disposal of the matter. cThe district Collector received a letter to this effect on Thursday.
Mr. Prasad was responsible for 10 irregularities, which include payment of Rs. 55 lakh to E.R. Somayajulu, CA, irregularities in consumer durable loans, purchase of new vehicles without approval of competent authority and irregularities in construction of bank branch buildings.
