Reportedly the nagpur bench of the bombay high court has refused to grant a stay on the inquiry against former minister Sunil Kedar in the ongoing investigation into the nagpur District Central Cooperative (NDCC) bank scam. Accused of financial irregularities during his tenure as chairman of the bank, Kedar faces charges of causing a loss of Rs 22 crore to the bank.
Meanwhile the inquiry into the scam pertains to allegations of mismanagement and improper loan distribution, which reportedly led to substantial financial damage to the bank. A special committee was established to probe the irregularities. Kedar had sought a stay on the committee’s proceedings, citing procedural concerns. However, the high court rejected his plea, stating that the inquiry would proceed as planned. Kedar had previously been convicted in the NDCC bank case and sentenced to five years in prison, along with a fine of Rs 50,000. Following the conviction, he approached the high court for relief, seeking a suspension of his sentence. While the court allowed him temporary relief, it directed that investigations into the matter continue.
Moreover in its latest order, the high court made it clear that Kedar’s request to halt the inquiry lacked sufficient grounds, and the investigation must continue uninterrupted. The court also emphasized that ensuring accountability in cooperative banking institutions is vital to protect depositors’ interests. However, the leader says his intention was clear. “Considering the ground situation, we had to go ahead with the current option as our aim is very clear we have to avenge uddhav Thackeray’s insult by local mla and leader of Shinde faction, ashish Jaiswal. uddhav thackeray gave him everything but he betrayed Thackeray."
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