Solan: Society secretary arrested for embezzling funds worth crores

Ambika Sharma

Solan, July 10

The Dharampur police arrested Amar Lal Kashyap, secretary of the Subathu NATC Society, last evening for allegedly embezzling crores by extending insecure loans to his friends and family.

He was nabbed after Sandeep Gupta, chairman of the society, lodged a complaint with the police on July 5 that former chairman Sushil Garg and secretary Amar Kashyap had embezzled over Rs 18 crore.

Examination of records revealed that the duo had overlooked directions issued by the Cooperative Department, and in the absence of any resolution from the managing committee, had disbursed huge loans to their friends and family members.

They failed to take any security from the loanees and extended loans above their limit, creating a grave financial crisis for the society. The society members had recently taken out a protest march at Subathu, demanding the arrest of the accused.

A case under Section 409 of the Bharatiya Nyaya Sanhita for criminal breach of trust has been registered against them, said SP Gaurav Singh. He added that Garg and his son, who were being interrogated, had also been arrested. Garg’s son was the beneficiary of an insecure loan worth about Rs 8 crore.

Garg was earlier arrested on July 2 for default in payment of Rs 39 lakh on a warrant issued by the Collector-cum-Assistant Registrar, Cooperative Societies, Solan, under Section 75(A) of the HP Land Revenue Act, 1954. However, he was released on bail in that case.

Kashyap of Olgi village was arrested after the rejection of his interim bail by a Solan court. He was produced before the court today, said the SP.

The arrest has come as a relief to society members, who are hopeful of recovering their savings.