Clean chit to ex-min in co-op bank matter

Panaji: After two decades, former minister Prakash Velip received a clean chit in a cooperative bank case.According to the prosecution, the bank’s general manager (vigilance) complained that between 2001 and 2006, three persons hatched a criminal conspiracy to defraud the bank by making excess payments without obtaining the required sanctions during construction of the bank’s head office at Panaji, and committed a breach of trust to the tune of Rs 7.8 crore.A House committee formed to look into the irregularities regarding construction of the head office complex of the bank, opined that the executive committee deliberately removed project architects, Bhashyam Associates, and appointed Sandesh Chodnekar, who manipulated the figures and siphoned the bank’s money in the name of the head office building project to the extent of over Rs 5 crore.The prosecution further stated that initially tenders were invited and only 14 contractors qualified, but they were not allowed to carry out construction, and a new contractor who did not possess the qualifications, was allotted the work.

The allotment was done under the chairmanship of Velip at the bank’s 23rd executive committee meet on Sep 12, 2003.The court stated that the investigating officer, despite specific direction from the court, did not carry out the investigation in the right direction. “The supplementary chargesheet does not contain any material to frame charge against the accused persons. I therefore find that the charge against the accused is groundless and they are liable to be discharged,” stated Mapusa JMFC, Puja U S Sardessai.