Bank loan

CBI delivers son of former Assam CM


GUWAHATI:

On November 7, the Central Bureau of Investigation (CBI) sentenced the younger son of the former Chief Minister of Assam, Hiteswar Saikia, Ashok Saikia (director of HBS India Pvt. Ltd) in connection with the case of the Assam State Cooperative Bank for Agriculture and Rural Development (ASCARD) fraud of 1995 -96.

CBI officials raided Ashok’s residence in Nandan Nagar on Sunday. The investigative agency also asked him to appear in court on Tuesday, November 9.

Ashok Saikia had taken out a loan of Rs 9.32 lakh from the bank, violating all standards when his father Hiteswar Saikia was the chief minister (1991-96) and Imran Shah was the president of the bank.

The bank provided loans to many prominent political leaders and businessmen during this period, although the cooperative bank is allowed to give loans only to farmers.

Later, a five-party alliance led by the AGP came to power in Dispur and appointed the head of the CPI, Munin Mahanta, chairman of the bank, who had taken the initiative to recover the loan amount from the defaulters.

Based on the bank’s complaint, the Paltan Bazar police station had registered a complaint (No. 202/1998) against Ashok Saikia. Later in 2001, the case was referred to the CBI on the basis of complaints.

Earlier in 2013, a CBI court sentenced Ashok Saikia to two years rigorous imprisonment and 10,000 rupees after convicting him of fraud with ASCARD bank. However, Ashok has reportedly escaped since then as the case was still pending. in the court.

“There have been two cases registered against me. In the first case, the court has already delivered the judgment, moreover, I appealed to a higher court in this regard and therefore, I do not have much to say about it. The second case concerns a loan case, in which I have already paid my overdue contributions both in principal and in interest after a settlement with the bank. However, the case is still pending in court. The CBI sent me a notice and asked me to appear in court on November 9, ”Saikia told media after the raid.

Saikia produced a copy of the letter from Bank ASCARD stating that he had already repaid the full amount on September 14, 2011. ”

“Ashok Kumar Saikia, Director, HBS India Pvt. Ltd was a lender to Assam State Co-operative Agriculture and Rural Development (ASCARD) Bank Limited. He used the loan amount of Rs 9,37,701 only under the bridging loan program during the year 1996. According to our letter of 14.09.2011 under the out-of-court settlement program, he fully refunded contributions in principal and interest. Now his aforementioned loan is liquidated, ”ASCARD Bank Managing Director HN Borah said in a statement on October 10, 2015.

“The CBI should not have intervened in this matter because my brother had already repaid the loan six years ago,” said Congresswoman Debabrata Saikia.

“My younger brother Ashok Saikia is innocent. All the loans have already been repaid by him by 2015. I am sure that justice will be done in his favor, ”he added.

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