A new twist has emerged in the embezzlement case involving ₹2.47 crore at the Saraswati Cooperative Society in Kanosan village. The Vadodara police arrested a 35-year-old man named Manuj. He applied for bail, but the judicial magistrate Dr. Hiralben P. Joshi of the Patan court denied his request. The court noted that the investigation is still incomplete. If the accused were granted bail, there is a possibility of tampering with evidence.
Details of the case indicate that on February 6, 2024, Inspector Gaurang Thakor of the Mehsana District Central Cooperative Bank filed a complaint regarding the embezzlement. In total, 73 individuals, including 66 members and 7 office bearers, have been accused.
The accused allegedly submitted false documents to obtain loans from the Patan branch of the bank between January 4, 2018, and June 17, 2021. These loans were taken in the names of the members or against their land. The accused have not repaid either the principal or the interest of these loans.
The court also noted that the police did not present any history of other crimes against Manuj or request a remand. However, considering the seriousness of the crime and the uncertainty of the accused’s presence during the trial, the bail was denied. This case highlights the ongoing issue of financial fraud in cooperative societies, raising concerns about the governance and regulatory oversight of such institutions. The authorities are under pressure to ensure that justice is served and that similar incidents do not occur in the future.
The Saraswati Cooperative Society case is part of a larger narrative about financial misconduct in cooperative banks, which play a vital role in supporting local economies. As investigations continue, the focus will be on improving accountability and preventing future embezzlement cases in Gujarat’s cooperative sector.
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