Pune: A special court of the Central Bureau of Investigation (CBI-ACB) has sentenced three individuals, including former director of the Dudhaganga Cooperative Milk Producers’ Society, Avinash Gholap, to three years of rigorous imprisonment for their roles in an embezzlement case involving eight crore rupees at the Indian Overseas Bank’s Indapur branch. The judgment was delivered by Special Judge A. S. Waghmare.
The accused individuals include Avinash Rajendrakumar Gholap, aged 58, a resident of Gholpwadi, Indapur; Laxman Ramchandra Rathod, aged 39, the then-branch manager residing in Lingapur, Asifabad; and Hanumant Gorakh Salunkhe, aged 40, a businessman from Karmala in Solapur district.
Additionally, the court imposed a fine of ₹1.5 lakh on Rathod and ₹95,000 each on Gholap and Salunkhe for their involvement in the fraudulent activities.
The case stemmed from a complaint filed by S. K. Srivastava, the then senior divisional manager of Indian Overseas Bank.
The fraudulent transactions took place between July 2013 and July 2016. Special public prosecutor Abhayraj Arikar argued the case on behalf of the government, which presented testimony from 18 witnesses.
According to the court's findings, Rathod, during his tenure as branch manager, transferred a total of ₹7.74 crore to the accounts of Gholap and Salunkhe under the agricultural loan and Kisan Credit Card schemes without the necessary written approvals from the farmers, leading to significant financial losses for the bank.
