Kurukshetra: A clerk of a Primary Agriculture Cooperative Society has been arrested in connection with an alleged ₹1.13 crore financial embezzlement case in Haryana’s Kurukshetra district. The accused, Dayaram, is alleged to have misappropriated society funds while serving as the acting manager by manipulating overdraft facilities, home loans, personal loans, education loans and interest calculations on customers’ deposits. He was arrested from Delhi Airport and has been remanded to four days of police custody for further interrogation.
According to police, Dayaram, a resident of Shanti Nagar, was employed as a clerk with the cooperative society. Between 2019 and 2023, he also held the additional responsibility of acting manager. Investigators allege that during this period he carried out multiple financial irregularities, causing substantial losses to the cooperative society.
The case originated from a complaint filed by Surjit Singh, a resident of Shanti Nagar. The complaint alleges that while functioning as acting manager, Dayaram embezzled approximately ₹1.13 crore, including interest, by manipulating financial records related to overdraft limits, housing loans, personal loans and education loans. He is also accused of altering the calculation of interest on customers’ deposits and withdrawals to obtain unlawful financial benefits.
Following the complaint, Jhansa Police registered an FIR and transferred the investigation to the Economic Offences Wing (EOW). Investigators began examining the society’s financial records, loan documents, ledgers, deposit and withdrawal registers, and other official records. Preliminary scrutiny reportedly revealed signs of financial irregularities, prompting an intensified search for the accused.
Police said Dayaram was eventually apprehended at Delhi Airport. After being produced before a court, he was remanded to four days of police custody. During the remand, investigators are questioning him about the alleged modus operandi, utilisation of the misappropriated funds, possible accomplices and the movement of the money. They are also attempting to determine whether the allegedly embezzled amount was invested in properties or other assets.
Investigators are cross-verifying the cooperative society’s bank accounts, loan approval process, interest calculation mechanism and accounting records. They are also examining whether other employees or officials had any role in the alleged fraud. Another key aspect of the investigation is to determine how the suspected financial irregularities remained undetected for several years and whether there were serious lapses in the society’s internal monitoring and audit systems.
Financial crime experts note that regular audits, digital accounting systems, multi-level financial approvals and periodic independent inspections are essential safeguards against embezzlement in cooperative institutions. Strong internal controls, transparent record management and timely verification of financial transactions play a crucial role in protecting public funds and detecting irregularities at an early stage.
The Economic Offences Wing is continuing its investigation by analysing financial records and tracing the alleged money trail. Police said further legal action will depend on the evidence gathered during the investigation. If additional proof emerges regarding the diversion of funds, financial transactions or the involvement of other individuals, the scope of the investigation is likely to be expanded.
