MP: Farmer's Five Acres Sold Off At ₹40K Over Non-Payment Of ₹20,000 Loan

Bhopal (Madhya Pradesh): A local court has sentenced jail term to five former employees of District Cooperative and Rural Development Bank, Bhopal for selling five acres of mortgaged land at just Rs 40,000 to recover a loan amount of Rs 20,000 from a farmer in the year 2000, said officials here on Friday. Lokayukta police had registered a case and began investigations.

The court has sentenced three year imprisonment to the then marketing officer VK Koshal, general manager HS Singhai, verification officer RS Garg, senior inspection officer PS Kushwaha and also slapped a fine of Rs 10,000 each.

One more person Krishna Sharma has been given three years imprisonment and imposed a fine of Rs 5000. SP DK Rathore said that a farmer, resident of Sohagpur of Bhopal district, had taken a loan of Rs 20,000 from the bank, against which he had mortgaged his five acres.

As the farmer failed to repay the loan, which came to around Rs 20,000 including Rs 10,000 interest, the bank officials allegedly laid a conspiracy and sold off his 5 acre at a marginal rate of Rs 40,000 which was lower than the prescribed collector rate then.

The matter was reported to the Lokayukta police and after the investigations the charge sheet was submitted in the court.