The Central Bureau of Investigation has filed a charge sheet against the then credit manager of the Bank of India in Assam’s Guwahati and others for allegedly sanctioning loans in violation of the rules.

The accused persons have been identified as Ramesh Kumar Jha, the then credit manager; Lakhpa Tsering, proprietor of Itanagar-based Lakhpa Trading Agency; Rubu Tasser, the owner of R.J. Earthmovers in Itanagar; Debasish Ghosh, a businessman and former sales manager of R.J. Earthmovers; and Haradhan Mukerjee, surveyor of an insurance company.

It was alleged that Mr. Jha, during 2012-14, sanctioned term loans and cash credit loans for purchasing machinery/excavators and civil contract work by violating the procedures and guidelines of the bank. The borrowers failed to repay the loans, causing a loss over ₹1.98 crore.