A manager of Punjab Agricultural Development Bank (PADB) in Malout was suspended for not taking action against Akali leader Dyal Singh Kolianwali who allegedly defaulted in repayment of a loan of Rs 1.02 crore.
State Cooperation Minister Sukhjinder Singh Randhawa said Rakesh Kumar has been placed under suspension.
"For the last three months he was sitting on the file of the case and had not prepared the arrest warrant of Dyal Singh Kolianwali who is the defaulter of a Rs 1.02 crore loan taken from the bank in spite of the directions of the bank MD," the minister said.
Randhawa asserted that anybody willfully defaulting on loans from cooperative banks will not be spared and strict action in accordance to provisions of law would be initiated against them.
In a recent meeting chaired by Randhawa, he enquired from the bank's MD H S Sidhu about the case, who then informed the minister the manager had only prepared the sale case of Dyal Singh and his wife.
Following this Randhawa directed the MD of the bank to immediately suspend the manager.
Now, the assistant registrar of Malout has been asked to prepare the arrest warrant of Dyal Singh Kolianwali within one week, Randhawa said.
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