Thursday, February 4, 2016

VS for comprehensive probe against Agriculture Development bank president

THIRUVANANTHAPURAM: Opposition leader V S Achuthanandan has demanded in a statement that a comprehensive probe should be conducted against Agriculture Development bank president Solomon Alexander for inflicting losses to the tune of lakhs of rupees on the bank.  

“The Agriculture Development bank went out of the way to give more than Rs 13 core loan  to the Neyyattinkara bank which already has years of arrears in State bank. Out of this, Rs 6.5 crore is an interest-free loan to be repaid in eight years.  Solomon did undue favours to the Neyyattinkara bank to retain his president’s post. Through this step, it is pointed out that the bank had to bear a loss of about Rs 2.5 crore. Soloman’s step is misuse of authority. In a similar way he forged documents and bought land in Pathanamthitta for double the actual price in order to build regional office of State Agriculture Development bank. On this account also, he caused big financial loss to the bank.

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