DGM Shakeel Ahmed of Cooperative Bank, Rampur, suspended for violating guidelines and making curiosity funds to Azam Khan’s belief

The UP authorities has suspended two senior financial institution officers of a District Cooperative Bank for allegedly making curiosity funds to belief’s linked with Azam Khan – the senior chief of the Samajwadi Party – in violation of established guidelines, media reported on Saturday (16 September).  

As per media stories, the 2 suspended financial institution officers embody Shakeel Ahmed, Deputy General Manager. and Upendra Kumar Saraswat, Secretary. Both of them are senior officers of District Cooperative Bank Rampur.  The motion has been taken in opposition to the 2 officers following an investigation relating to monetary irregularities. 

Both of them have been accused of constructing unlawful funds of curiosity to Azam Khan’s Jauhar University, Jauhar Trust, and Rampur Public School. Following the suspension, each of them have been hooked up to Lucknow headquarters. 

The investigation revealed that the Jauhar University department of the District Cooperative Bank, thought of the financial institution accounts operated within the identify of Jauhar University and Jauhar Trust as financial savings accounts. Afterward, the department paid curiosity value Rs 17.58 lakh to Jauhar University and Rs 2.18 lakh to Jauhar Trust in July 2022.

Apart from that, the diploma faculty department of the District Cooperative Bank additionally handled the account operated within the identify of Rampur Public School as a financial savings account. Subsequently, it paid curiosity of Rs 3.67 lakh to the general public college. 

Interestingly, all three accounts are being operated by the Samajwadi Party chief, Mohammad Azam Khan. 

According to the foundations, the District Cooperative Bank can neither take into account these accounts operated by all three establishments as financial savings accounts nor can it pay curiosity to them. 

Several different establishments, together with Saraswati Shishu Mandir, Saraswati Vidya Mandir, Arya Samaj, and District J Panchayat, amongst others, additionally maintain accounts within the District Cooperative Bank. However, they haven’t obtained any curiosity funds from the financial institution.

When the matter got here to the discover of native MLA Akash Saxena, he despatched a criticism to the Additional Chief Secretary demanding an investigation into the matter. 

After receiving data, MLA Saxena despatched a criticism to the state Chief Minister Yogi Adityanath which prompted the formation of an inquiry committee. 

In its investigation, the committee discovered that the cost of curiosity was in opposition to the established guidelines. As a end result, the UP authorities led by CM Yogi Adityanath has suspended each the financial institution officers and has hooked up them to the headquarters.

Earlier, the Income Tax (IT) division carried out raids on the premises of SP chief Azam Khan in Rampur in relation to a tax evasion probe in opposition to the previous cabinet minister. The company raid which continued for 3 days, was reportedly linked to the Al Jauhar Trust. It is anticipated that the suspected tax evasion is to the tune of Rs 800 crores. 

At least 30 premises throughout Madhya Pradesh and Uttar Pradesh have been searched together with in Lucknow, Rampur, Meerut, Ghaziabad, Saharanpur, and Sitapur as a part of a tax evasion probe in opposition to Azam Khan.

Azam Khan is the top of the Al Jauhar Trust. A lease for a 3.24-acre plot of the Trust was cancelled by the Uttar Pradesh authorities earlier this yr. The plot was reportedly given to the Trust to arrange a analysis institute and the lease was signed in 2013-14 for Rs 100 a yr for over 30 years.

However, Azam Khan claimed that he depends on the cash he earns from his dairy. During the raid, he instructed the IT officers that about Rs 20,000 comes from his buffalo dairy, and that’s what retains his dwelling working.