Cuttack: Congress leader from Odisha Mohammed Moquim has moved Orissa High Court against the Special Vigilance court’s verdict on the loan fraud case.
The Cuttack-Barabati MLA, who is the former managing director of Metro Builders, along with three others including former IAS officer Vinod Kumar was awarded 3-year rigorous imprisonment on Thursday. The court found Mouqim, Kumar, Company Secretary Swosti Ranjan Mohapatra, and Metro Builders Director Peeyush Dhari Mohanty guilty of showing undue official favour, criminal misconduct, forgery, cheating and criminal conspiracy and obtaining pecuniary advantage for Metro Builders Pvt Ltd by releasing funds in the guise of loans meant for the rural poor.
The loan fraud took place when Kumar was managing director of Odisha Rural Housing and Development Corporation (ORHDC) between January 4, 2000, and May 15, 2001. Metro Builders Pvt Ltd was sanctioned a term loan of Rs 1.5 crore from the state PSU for its Metro City-II project without the approval of the board of directors of ORHDC or the loan committee.
Also Read: Loan Fraud Conviction: Will Odisha Cong Leader Md Moquim Lose MLA Status?
All of them were slapped with a fine of Rs 50,000 each. In case of default, they have to undergo six more months of imprisonment.
Notably, Mouqim has been granted bail in the case. “A businessman who turns politician and that too from the Opposition has to face such allegations from the ruling party. My bail has been granted, and I will move High Court against the ruling,” he had said, denying any wrongdoings by him or his firm.
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