Govt to crack down on UP lease officers

Lucknow: The government has taken a serious view of the cases of irregularities and misappropriation of depositors’ money and government fund by the officers of UPlease Financial Services Ltd, a wholly owned government company of UP Electronics Corporation Ltd.
According to a press release issued by the department of electronics and information technology, the government has directed to take stern action against the accused persons and in this connection FIR under section 409, 420, 467, 468, 471, 120 (B) of IPC have been filed against the them managing director of the company rk tandon who has since been retired and another assistant officer at varanasi (presently suspended) is being lodged in police station.
The main business of the company which was incorporated in 1988, was to accept public deposits from general public and to advance loans in the form of lease financing for electronics and allied products.
The company had taken fixed deposits worth Rs 3.53 crore from general public.