Cuttack, August 11: Odisha Vigilance on Tuesday arrested Sarat Kumar Nayak, former Secretary of Anandpur Service Co-operative Society (SCS) under PACS Banki in Cuttack district, in connection with the alleged misappropriation of society funds amounting to ₹21.28 lakh.

According to Odisha Vigilance, an extensive investigation revealed that Nayak had collected loan repayment amounts directly from various borrower members (loanees) of PACS Banki. While he allegedly entered the actual amounts collected in the daily transaction ledger, or Day Book, he deliberately manipulated the official accounting registers by recording lower-than-actual collection figures.

The Vigilance investigation found that the difference between the actual collections and the amounts reflected in the official accounting records was allegedly siphoned off by Nayak for his personal gain. The alleged manipulation resulted in a financial loss of ₹21,28,058 to PACS Banki and the government exchequer.

In connection with the alleged financial irregularities, Kataka Vigilance Police Station registered a case against Sarat Kumar Nayak and arrested him.