Bhubaneswar: The Odisha Vigilance on Tuesday arrested Sarat Kumar Nayak, former secretary of Anandpur Service Co-operative Society, also known as PACS Banki, in Kataka district, for allegedly misappropriating more than Rs 21 lakh from the society’s funds.
According to a Vigilance release, Nayak collected loan repayment amounts directly from several borrower members of the society. While he correctly entered the actual collections in the daily transaction ledger, he systematically understated the totals in the official accounting registers. By recording lower figures than the sums received, he diverted Rs 21,28,058 for his personal use, causing significant financial loss to PACS Banki and the government exchequer.
Following his arrest, Nayak was produced before the Special Judge, Vigilance, Kataka.
While a case has been registered against him at Kataka Vigilance police station under relevant sections of the Prevention of Corruption (Amendment) Act, 2018, and the Indian Penal Code, further investigation is underway.