It looks as if APSMFC officials want to update it by landing into another scam. The AP State Minorites Finance Corporation (APSMFC), an executive director (ED) has been suspended on Thursday after hundred of clearance files pertaining to loan sanctions were seized from him.
After receiving several complaints from loan applicants alleging that Hameed had wanted bribes for clearing files, officials of the corporation,also including managing director Syed Vilayat Hussain and regional managers Amjad Pasha and Shaik Abid Ali, raided Hameed’s office in Ranga Reddy district collectorate in Khairatabad and his residence in Shaikpet.
According to sources, that official found 934 files, out of which 64 were recovered from his house, all carrying approvals of loans running into Rs.4.7 crore.
Officers are not allowed to carry files out of the office without obtaining former approval from seniors for instance the general manager or vice chairman and managing director, in this case, Prof Syed Abdul Shukoor, stated an APSMFC official.
In what is seen as blatant violation of rules, Hameed had failed to enlighten loan beneficiaries that their applications had been approved, in its place, he instructed “brokers” to make contact with them and sought money for clearing their files.
Syed Vilayat Hussain said that, “The files were cleared by the RR district collector on February 18. While some applicants told us that the brokers were asking for money, others said they were not informed that their applications were approved. This in itself is prima facie evidence against the erring officer”.
Elucidating the procedure of funds transfer, Hussain said that beneficiaries are updated once the loan is approved, after that a proceeding is sent to the concerned bank.
An ‘inoperative bank account’ is opened in the beneficiary’s name within a couple of days, after which the beneficiary is instructed to notify the APSMFC of the account number. The funds after that are transferred to this account by the corporation.
As per sources Hameed was suspended on three other occasions — once when he was serving as ED Anantapur around seven years back and again two years later when he was posted in Medak.
A third suspension order was dished up last December by former managing director Hashim Shareef when he reportedly received complaints of corruption against Hameed.
However, despite his suspension, he was reinstated due to political pressure, sources added. When get in touch, APSMFC vice chairman and managing director Prof Syed Abdul Shukoor said: “The official has been suspended. We are in the process of framing charges, after which we will carry out a definite inquiry. I have informed all EDs to inform beneficiaries of approvals.”