[Resolved]  Indian Overseas Bank (Iob) — Corruption by Mr. R.K.Pradhan, Manager, IOB, Ananda Palit Rd Br. (1108), Kolkata

To
The Governor
Reserve Bank of India

11.3.2009

Sir,

I am Mr. Kapil Sen, Senior Engineer, West Bengal State Electricity Board (WBSEB), Kolkata with 8 yrs of service remaining. My permanent residence is my own house at CIT Road, Kolkata(5 mins walking distance from Ananda Palit Rd Branch).

I had visited & applied for Education Loan (Rs 3.5 lacs) for my son’s engineering, to Mr. R.K.Pradhan, Manager, IOB, 38/B Anand Palit Rd Br., Kolkata-700014, in the month of January 2009. My son got admission in IEM, Kolkata(AICTE approved), which is one of the premier engineering colleges of the state, with high score and rank in WBJEE.

But, unfortunately, in spite of having all necessary documents, my son’s loan application was rejected, for reasons beyond me. I was told verbally by Mr. Pradhan that his branch does not have sufficient funds for education loan, & he has not sanctioned any education loan during his tenure at the branch.

Later, I came to know from staff members at the branch & other authentic sources that he is involved in various corrupt activities regarding sanctioning of education loans. He has illegally sanctioned 10-12 education loans (amounts between 2.5 to 3.5 lacs) to P.C.Chandra School of Business (PCCSOB), Kolkata (LC : 824), for MBA course.

For each of the education loans sanctioned by him, he has collected cut money of Rs 20, 000/- as commission from Mr Avishek Auddy, Director, PCCSOB.

Mr Pradhan, also frequently receives cash money and other gifts from Mr. Abhijit Laha (member of P.C.Chandra Group), in return for various favors & unfair advantages provided to him.

PCCSOB does not meet eligibility criterion for sanctioning education loan as per RBI norms as :-

1. PCCSOB is neither AICTE nor WBUT recognized.

2. MBA course at PCCSOB is in part-time distance learning mode, not regular full-time course.

3. Not even a single batch has been placed as yet, so there is no guarantee that IOB will get back its money.

4. College runs in rented premises & loans have also been given to candidates from outside of Kolkata, with fudged residence proofs.

5. PCCSOB has no genuine selection process & no consideration for merit at admission time.

6. PCCSOB, is actually a mere Distance Learning Center [LC: 824], not eligible for any Education Loan.


Mr. Avishek Auddy, Director, PCCSOB along with Ms. Sharmistha Mukherjee, head admissions, is involved in malicious activities of making counterfeit documents (address proof & salary slips) for availing education loan.

Mr. N.K.Tarafdar, previous manager at the same Ananda Palit Rd Br., Kolkata(retired in January 2008), who is now employed by Mr A. Auddy at PCCSOB serves as a linkman for these illegal activities.

There have been several complaints by students against PCCSOB at AICTE, UGC, DEC, PTU, AIU for poor quality of education provided & non-adherence to rules and standards.

I would request you to take proper measures against Mr. R.K.Pradhan, Manager, IOB, Ananda Palit Rd Br.(1108), Kolkata & Mr. Avishek Auddy, Director, PCCSOB, the two main perpetrators of the crime, so that genuine meritorious students are not deprived of Higher Education in India (without disclosing identity).

Please ensure that no further education loans are sanctioned, to this illegal & fraudulent institute PCCSOB, in future & the loans sanctioned till date, are investigated and canceled.



Yours faithfully,



Kapil Sen
(Kolkata)


Copy to :

CVO, IOB, Chennai
CVC, Satarkata Bhavan, New Delhi
Chairman, IOB, Chennai
Banking Ombudsman, RBI, Kolkata