The Telegraph
Since 1st March, 1999
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Double fault slur on CM pal’s firm

Ranchi, Sept. 5: The dubious firm of chief minister Madhu Koda’s pal Binod Sinha — India Diesel and Tractors — not only allegedly duped Bank of India but also cheated several poor people.

The partnership firm had floated a scheme to provide tractors through loans from the Bank of Baroda. The firm had struck a deal with the bank to provide the loan against which the firm would provide new tractors to the beneficiaries.

The firm collected 87 loan applications along with the beneficiaries’ land possession certificates from different circles within the West Singhbhum district, including Sadar, Tatanagar, Kumardungi, Tonto, Khuntpari, Rajnagar, Chakradharpur, Manjhari and Jhinkpani. The bank financed Sinha’s firm Rs 3.84 crore for providing tractors.

However, the bank received a letter in May 2006 from the Sadar circle officer stating that the land possession certificates furnished by the firm on behalf of the beneficiaries were fake. The officer said 42 certificates were forged. Similar reports were received from other circle officers as well.

Worse, the beneficiaries did not get the bonus of Rs 6,000, which, as per the deal between Sinha’s firm and the bank, was to be adjusted with the loan amount.

Subsequently, the bank filed an FIR against Sinha as well as the other partners of the firm and stopped providing it funds.

On the other hand, Vikas Sinha, one of the partners of the firm, filed a case against the bank authorities stating that the bank retracted from its commitment after the firm delivered 62 tractors.

The Bank of Baroda later filed a criminal case last May against Sinha and his partners — Manoj Kumar Sinha, Vikas Kumar Sinha and Sunil Kumar Sinha — for allegedly cheating the bank.

The financial institution moved the court after its officials found that the police were harassing bank employees instead of booking the “real culprits”.

The bank moved the high court demanding a CBI inquiry alleging that the police were not investigating the case properly.

A criminal writ has been filed in Jharkhand High Court in this connection.

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