Friday, December 09, 2005

Microbus entrepreneurs interrogated by CIAA

Itahari, Dec. 9- Agriculture Development Bank at Itahari has started to interrogate the entrepreneurs who did not operate the microbuses after taking loans from the bank for the same purpose.

As it had been a trend to invest in microbuses in the early three months of 2002, the Agriculture Development Bank of Itahari had provided loans to 19 entrepreneurs without collateral for 70% of the total investment. As the entrepreneurs stopped running the microbuses after some months and paid no loans, the bank started to interrogate them.

The Commission for Investigation of Abuse of Authority (CIAA) has proceeded inquiry with the interrogation made recently in this context.

According to Chief of the bank, Krishna Prasad Gautam, 11 entrepreneurs were already interrogated by CIAA and the remaining are in the process to be interrogated.

It has also been learnt that K. B. Subba and another entrepreneurs were disappeared for a long time.

The bank has also inquired the entrepreneurs about the condition and status of the purchased microbuses.

The bank needs to debit Rs. 32.5 million as principal and a total of Rs. 50 million including interests from those entrepreneurs.

In the mean time, CIAA has proceeded actions against three top-level employees of the bank and the company that provided the vehicles to the entrepreneurs.

According to the source, it is guilty of both the vehicle providing company as well as the bank that provided millions of rupees without mortgage in the loan investment.

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