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HC attaches property, accounts of 3 DCCB brass

BS Regional Bureau in Mumbai

The Aurangabad bench of the Mumbai high court has ordered the attachment of all movable and immovable properties as well as a freeze on all bank accounts of all members of the managing committees of the Nagpur, Wardha and Osmanabad district central cooperative banks and the Amravati urban cooperative bank.

Delivering the judgement on Friday on a writ petition filed by Osmanabad-based advocate Vilas Humbe, the bench said: "The state government is directed to invoke the provisions of Section 95 of the Cooperative Societies Act, 1960, and all moveable and immovable properties of all members of the managing committee of the Osmanabad DCCB as well as the Nagpur, Wardha and Amravati DCCBs are attached. In addition, the bank accounts of these managing committee members shall be caused to be frozen by the government."

The order also directed the state government to freeze all bank accounts and attach the moveable and immovable properties of six companies floated by chairman of the Osmanabad DCCB Pavanraji Nimbalkar and his relatives through which he is alleged to have siphoned off Rs 1.76 billion by way of investments, lending and borrowings.

"It appears that the transactions between the DCCBs (Nagpur, Wardha, Osmanabad and Amravati) are inter-linked in some ways," the bench observed. The court also dismissed as utterly false the statements made by K Ramachandran, deputy inspector general of police, state CID, in an affidavit where he said that Nimbalkar was an accused who was absconding.

While the dictation of the order by the bench was in progress the registry had brought to its notice that the accused Nimbalkar had filed a writ petition (no 16048 of 2002) and he appeared before the section officer and verified the petition on July 24, 2002.

"In such circumstances, the allegations made by the petitioner, regarding political interference cannot be brushed aside," the court said.

The court also directed the Reserve Bank of India to investigate into the working of the four banks by a senior officer not below the rank of deputy general manager, if the same has not been done so far.

The six family owned companies of Nimbalkar, all located in Osmanabad, have been named as Om Jai Trading Company, Anandi manufacturing Company, Om Engineering Company, Om Trading Company Private Ltd, Aaramb Infrastructure Private Ltd Company and Om Jai Infrastructure Private Ltd.

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