Etawah, Sept. 9 -- A massive embezzlement case has come to light in the Etawah District Cooperative Bank, where a departmental investigation has found 12 officials and employees responsible for misappropriating Rs 54.33 crore.
Acting on directives from the state government, Joint Commissioner and Joint Registrar (Cooperation), Kanpur Division, conducted a detailed inquiry under Section 68(1) of the Uttar Pradesh Cooperative Societies Act, 1965.
Following the inquiry, charges were formally established under Section 68(2) of the Act. The accused have been instructed to deposit the embezzled amount, along with 12% interest, back into the bank by September 15. Failure to comply will result in recovery proceedings under Section 92 of the same ...