Team Goemkarponn
BICHOLIM: The Judicial Magistrate First Class (JMFC) Court in Bicholim has granted bail to four individuals arrested in connection with the alleged misappropriation of Rs 11 crore from the Pirna-based Ashtagandha Multi-State Co-operative Society.
The accused – Prakash Anant Naik, Prakash Vithal Naik, and Prakash Ladu Naik, all residents of Pirna, and Krishna B. Harlankar from Sirsaim – were taken into custody by the Economic Offences Cell (EOC) earlier this month.
They had served as members of the Board of Directors during the period when the financial irregularities are said to have occurred.
The case pertains to the alleged siphoning of society funds over a period of time, with the accused being suspected of using their positions to divert public money entrusted to the co-operative society. The fraud came to light following complaints from members and depositors, prompting a detailed probe by the EOC.
Investigations revealed that over Rs 11 crore was unaccounted for, raising serious questions about governance and oversight within the society.
The JMFC Court granted bail to the accused, while the investigation by the EOC is ongoing. Authorities are also expected to examine financial records and conduct further questioning of other society officials.
