Loan Default Case: Punjab Agriculture Development Bank manager suspended

PADB Managing Director H S Sidhu had directed Rakesh Kumar, the manager in Malout, three months ago to initiate proceedings of attachment of Kolianwali’s property and getting an arrest warrant issued against him.

By: Express News Service | Chandigarh | Published: May 4, 2018 5:39:05 am

After announcing action against SAD leader Dyal Singh Kolianwali, an aide of former Chief Minister Parkash Singh Badal, for “willfully defaulting” on a loan by Punjab Agriculture Development Bank (PADB), state Jails and Cooperation Minister Sukhjinder Singh Randhawa Thursday suspended the manager of PADB, Malout, for dereliction of duty.

PADB Managing Director H S Sidhu had directed Rakesh Kumar, the manager in Malout, three months ago to initiate proceedings of attachment of Kolianwali’s property and getting an arrest warrant issued against him. “He did not comply with the orders of his senior. I have ordered his suspension with immediate effect,” Randhawa told The Indian Express. He added he had directed the officials of PADB to immediately attach Kolianwali’s property. Kolianwali, a resident of Kolianwali village in Malout, and his family owes Rs 1.05 crore to the PADB.

Randhawa said, “We will take over his land. I do not think we can auction it as people in the area
fear him.” Kolianwali was not available for comment despite repeated attempts to contact him.