“He did not verify the proper utilization of Term Loan by the party before considering any request of the party. He did not verify the genuineness/existence of the party to whom the work of construction as well as supply of plant and machinery were given by the company and the fund received by the said party from the Syndicate Bank as Term Loan. Even after receipt of complaint related to installation of second hand machinery by the said company he did not verify the genuineness of the same. He did not ensure to collect the original bills/invoices and also the details of plant and machineries. He, on the direction of RO, Patna inspected the factory on 27.12.2007 but in conspiracy with Manager (ID), RO, Patna gave false report that installation of plant and machinery was almost complete except a few machines. Further, he deliberately in conspiracy with the private party declared the old machines as new one. He further instead of rejecting the proposal of the party forwarded to RO with recommendation of Branch to further renew the SOD limit of Rs. 90 lakhs. He did not monitor the release of ODH limit. He in conspiracy with the private party allowed to withdraw the entire amount within six months without commencement of commercial production by the factory. He had also allowed the party to give the installment of Term Loans etc. from the fund given specifically for the working capital limit. As per terms of sanction, the unit was supposed to be inspected by the Dhanbad Branch Officials as and when required for effective monitoring of the account. He did not ensure the compliance of clause no. 19 (related to compliance of terms of sanction, due diligence certificates etc.) of RO sanction and deviated from the sanctioned terms of loan. He did not obtain documents in ASD-13 format in support of the purchase of machineries before release of the limit meant for working capital. He did not ensure the stock statement
