Decisive Verdict on Rs 150 Crore NDCCB Scam Postponed to December 22

The judgment for the Rs 150 crore NDCCB scam, a two-decade-old government securities fraud case involving Nagpur District Central Cooperative Bank, has once again been rescheduled, now set for December 22. Senior Congress leader and former Minister Sunil Kedar, the primary defendant in the case, has faced a prolonged legal battle spanning 21 years. Originally slated for a verdict on November 28, the trial court subsequently deferred it to December 18 and now to December 22.

Sunil Kedar, who held the position of Chairman at the bank when the scam came to light, stands accused in the Rs 150 crore fraud case. The protracted legal proceedings have involved political figures and have garnered national attention, with approximately 16 related cases awaiting resolution in courts across four states.

In November 2019, the trial court established charges including criminal breach of trust, misappropriation, forgery, and criminal conspiracy. The accusations against Kedar involve the alleged diversion of bank funds to private entities for the acquisition of government securities, constituting a purported violation of the Cooperatives Act and resulting in significant financial losses for the bank.

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