Nagpur: A major scandal has come to light involving bank officials and a valuer, where goods valued at over Rs 13 crore were auctioned for just Rs 7.30 lakh. An FIR has been filed against five individuals, including bank officials and a valuer, following a complaint by businessman K Gopalakrishnan.
According to the police, Gopalakrishnan, a resident of Civil Lines and Director of G K Power Transmission Company, had taken a loan from Dena Bank, now known as Bank of Baroda. Due to non-payment, the bank sealed his warehouse, located in Sri Ramakrishna Society of Gorewada, and confiscated all assets. The seized goods included high-value equipment used for high-tension line substations and power line installations.
Despite the major value of these assets, which was estimated to be over Rs 13 crore, they were auctioned off for a mere Rs 7.30 lakh. The complaint alleges that bank officials including Branch Managers Ruchi Shivliya, Nirmalchand Patil, and Vedprakash Ingle, Ravindra Tewatia, and the valuer V N Talithaya were involved in this fraud.
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Friday 17 Jan. 2025
It is claimed that these officials colluded to undervalue the goods. Talithaya, despite lacking expertise in electrical equipment, was reportedly tasked with valuing the inventory which resulted in an undervaluation of just Rs 3.60 lakh. The police further stated that the judicial authority’s permission was not sought for the auction, which was conducted irregularly and purportedly to benefit the officials and their acquaintances. This has led to a major financial loss for Gopalakrishnan.
Upon receiving the complaint, the Mankapur Police have registered the case under Sections 409, 420, 467, 468 and 120(B) of IPC. The Economic Offences Wing (EOW ) is now investigating the case.
