ED arrests NCP MLC from Pune in a ₹71 crore bank scam
The Enforcement Directorate (ED) on Saturday arrested Nationalist Congress Party (NCP) member of Legislative Council (MLC) Anil Bhosale and three others in Pune’s Shivajirao Bhosale Co-operative Bank scam.
After securing a production warrant from the special Prevention of Money Laundering Act (PMLA) court in Mumbai, the ED officers on Saturday took custody of Bhosale, Suryaji Pandurang Jadhav, director of the bank; Tanaji Dattu Padwal, chief executive officer and Shailesh Sampatrao Bhosale, a senior executive.
All four were lodged in Pune’s Yerwada jail ever since Pune Police arrested them in the cheating and forgery case in February 2020. The case was first registered by Shivaji Nagar police station.
Bhosale and others have been accused of siphoning off money from the bank. It is found that there was a cash discrepancy of nearly ₹71 crores.
Later, based on Pune Police’s first information report (FIR) the ED registered a PMLA case. Now ED officers arrested Bhosale and others in their PMLA case.
Bhosale and three others are remanded in ED’s custody up till March 11.
ED, previously in a statement, said that the bank did not comply with the internal audit, Reserve Bank of India (RBI) audit, and inspection audit. Borrowers and guarantor’s financial statement and repayment capacity were not considered before sanctioning the loan.
“In most of the cases, the bank has not conducted a post-sanction verification. Periodical inspection of primary and collateral securities was not done. Bank did not obtain the latest valuation report for loans against property,” an ED officer said.
It is revealed that the bank has violated the guidelines of RBI as well as the co-operative department while disbursing advances, the officer added.
Many advances were unsecured but the banks treated them as secured. Even though some of the accounts were marked as a non-performing asset (NPA) and their account balance was lying outstanding, their properties were released along with a no-objection certificate (NOC).
Multiple properties are mortgaged to various loans, even if the margin was not sufficient to cover the said advances, ED states.
Bhosale, Suryaji Jadhav, Tanaji Padwal hatched a criminal conspiracy and illegally transferred the money through RTGS / NEFT from the bank.
It is observed that more than 90% of bank loans are NPA, ED stated.
ED in January also conducted searches on multiple premises in and around Pune in connection with a money laundering case linked to the bank scam. During the search operation, incriminating documents were recovered and seized including digital evidence under PMLA.
(With inputs from Charul Shah)