The Telegraph
Since 1st March, 1999
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Staff funds fraud arrest in MAMC

Burdwan, Feb. 19: The finance manager of the moribund Mining and Allied Machinery Corporation (MAMC) in Durgapur was arrested today for siphoning funds meant for the employees’ cooperative credit society.

Nishit Kumar Ghosh was picked up from his Durgapur residence after Burdwan chief judicial magistrate Sabyasachi Biswas directed the police to arrest him. An arrest warrant has also been issued against MAMC chairman and managing director P.K. Rahatogi.

Ghosh was shifted to the Durgapur sub-divisional hospital as he complained of illness after being taken to the police station.

Shyamal Sarkar, an official of the credit society, said a complaint was lodged against MAMC after it was found that funds deducted from the salary of staff members of the society had not been deposited since 1995. MAMC was shut down on January 3 last year.

On being approached, the assistant registrar of cooperative credit societies in Asansol had directed the company last July that the pending amount of Rs 1.47 crore be given to the society with an annual interest of 12 per cent, beginning 1995.

Stating that the arrest was “unfortunate”, MAMC secretary Moni Gupta said the Centre had the issue under consideration. “Only on February 11 last year the issue was discussed at our board meeting and a committee was formed to determine how much was due. The committee is yet to furnish a report. And suddenly the arrest came,” he said.

Cheater held

A woman was arrested from C.N. Roy Road in Tiljala on Wednesday night for allegedly taking money from people on the pretext of admitting their wards to reputed schools in the city. Puja Gracious, who was arrested after a guardian complained, has confessed to collecting several lakhs of rupees, said the officer in charge of Tiljala police station.

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