The West Bengal cooperative financial institution, now beneath the scanner of the Central Bureau of Investigation (CBI) within the cattle smuggling case was shut down in 2014 due to insolvency, financial institution officers and a piece of consumers advised Hindustan Instances on Friday.

The Birbhum District Central Cooperative Financial institution Ltd. reopened after 17 months in October 2015 following efforts by the state authorities however bought again its licence from the Reserve Financial institution of India (RBI) in September 2016, financial institution officers mentioned.

The financial institution, which was arrange in 1962 with 4 branches, at present has 15 in Birbhum. It supplies loans primarily to farmers and self-help teams.

CBI went by means of paperwork on the financial institution, having its headquarters at Siuri city, on Thursday and located 177 suspicious accounts by means of which round ₹10 crore had been suspected to have been siphoned in the previous few years following which the probe company froze 54 accounts.

Additionally Learn: West Bengal cattle smuggling case: CBI freezes 54 accounts at cooperative financial institution

Siuri department supervisor Abhijit Samanta and former supervisor Indra Kumar Gurung had been additionally interrogated by the CBI on Friday.

Financial institution officers, who didn’t wish to be recognized, mentioned based on out there audit experiences, the financial institution had a working capital of ₹365 crore and deposits of ₹245 crore until March 2020. The financial institution made a revenue of ₹11.14 crore in 2020 and its capital adequacy ratio (CAR) stood at 12.63% on March 31, 2020.

“In 2014, when the financial institution shut down, the CAR stood at minus 49%,” one of many officers mentioned.

CBI officers mentioned they’ve sought assist from banking specialists to look at the data.

The chairman of the financial institution’s board of administrators is Trinamool Congress (TMC) chief Kaliprasad Ghosh. Until September final 12 months, the publish was held by TMC chief Nurul Islam.

Islam, Siuri residents mentioned, is thought to be near TMC’s Birbhum district unit president Anubrata Mondal, the prime suspect within the cattle smuggling case.

Arrested by the CBI on August 11 final 12 months, Mondal is now in judicial custody. His final bail prayer was rejected by the Asansol court docket on Wednesday.

“Members of the board are by no means concerned in operations of the financial institution. I’ve requested for a report from the Siuri department,” Nurul Islam mentioned.

“I took over because the board chairman very lately. I’ve nothing to say,” mentioned Ghosh.

Since most of the accountholders are farmers, CBI officers suspect they had been made to signal account opening kinds and didn’t know the way and by whom the accounts had been getting used.

“I’m illiterate and can’t even signal my title,” Sundari Basaki, whose title and handle appeared in one of many 177 suspicious accounts, advised native media individuals.

Mondal was named within the CBI’s fourth chargesheet filed on the Asansol court docket on October 7 final 12 months.

Mondal’s former bodyguard, Sehgal Hossain, was arrested by CBI on June 10 and named within the third chargesheet filed on August 8, 2022.

CBI officers have up to now traced numerous financial institution accounts and properties belonging to Mondal, his daughter, Sukanya, and Hossain.

The company suspects that accounts within the cooperative financial institution had been used to siphon proceeds from the cattle smuggling operation throughout the India-Bangladesh border.

Additionally Learn: Mortgage fraud case: Venugopal Dhoot’s plea towards arrest rejected by particular CBI court docket

In October, the CBI requested three banks in Bolpur city, the place Mondal lives, to offer particulars of transactions made by him and his family and associates. Notices had been additionally despatched to the Punjab Nationwide Financial institution (PNB), State Financial institution of India (SBI) and Axis Financial institution the place Mondal, Sukanya, and the opposite suspects have accounts.

On September 28 final 12 months, numerous paperwork saved within the file room of the Bolpur department of Axis Financial institution had been destroyed in a hearth that was suspected to have been attributable to {an electrical} brief circuit.

In its chargesheet filed towards Mondal, the CBI mentioned that he’s suspected to be linked to 168 land and property deeds executed in or after 2014. A minimum of two dozen of those belong to Mondal, suspects the federal company, whereas the remaining 144 registration papers bear the names of his family, aides and their kin.

It’s suspected that proceeds from cattle smuggling had been used to purchase these properties.