Archive · 23 Sep 2026
EOW Books Bank Officials, Suppliers Over ₹9.70 Crore Polyhouse Fraud
Officials in Khargone are investigating a large loan fraud involving polyhouses.
Polyhouses are covered structures used for growing plants.
A bank approved loans for 33 farmers to build them.
The money was sent to private companies that were supposed to do the construction.
Officials say only three polyhouses were actually built.
Some companies allegedly took money without completing the work.
Investigators also found completion certificates that appeared to be false or were submitted at unusual times.
The Economic Offences Wing has registered a case against bank officials and suppliers.
The Economic Offences Wing registered a case over an alleged ₹9.70 crore polyhouse loan fraud in Khargone, Madhya Pradesh.
Loans totaling ₹7.80 crore were sanctioned in the names of 33 farmers under the National Horticulture Mission.
The loan money was disbursed to private construction firms, but officials said only three polyhouses were built.
Investigators alleged that completion certificates were forged and that payments were made before or without proper construction verification.
The case names bank officials, including former manager KK Sarvete, and four suppliers.
- Who
- The Economic Offences Wing, bank officials including former manager KK Sarvete, four suppliers, private construction firms and 33 farmers.
- What
- A case was registered over an alleged ₹9.70 crore fraud involving polyhouse construction loans.
- Where
- Khargone, Madhya Pradesh, at a branch of a nationalised bank.
- Why
- Loans were allegedly sanctioned in farmers’ names and paid to private firms even though most of the promised polyhouses were not constructed.
- Alleged loss
- ₹9.70 crore
- Farmers involved
- 33
- Initial sanctioned loans
- ₹7,80,85,000
- Polyhouses actually constructed
- Three
- Investigating agency
- Economic Offences Wing
- Loan programme
- National Horticulture Mission
- Named former bank manager
- KK Sarvete