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ED attaches assets worth ₹85cr of former Pune ZP chairman Mangaldas Bandal
ED attaches assets worth ₹85 crore belonging to Mangaldas Vittahlrao Bandal, former chairman of Pune Zilla Parishad; and other bank staff and their family members in the case of Pune-based Shivajirao Bhosale Sahakari Bank Limited under PMLA
PUNE The Enforcement Directorate (ED) has attached assets worth ₹85 crore approximately in the form of immovable properties in Pune, Solapur and Ahmednagar belonging to Mangaldas Vittahlrao Bandal, former chairman of Pune Zilla Parishad; and other bank staff Hanumant Sambhaji Khemdhare, Satish alias Yatish Jadav and their family members in the case of Pune-based Shivajirao Bhosale Sahakari Bank Limited (SBSBL) under provisions of Prevention of Money Laundering Act (PMLA).
“ED initiated investigation on the basis of a first information report (FIR) registered by Shivajinagar police station in 2020 against Anil Shivajirao Bhosale, Suryaji Pandurang Jadhav and others,” stated the release from the probe agency on Thursday.
Further, Economic Offences Wing (EOW), Pune had filed chargesheet and supplementary chargesheet in the case against the accused persons.
ED investigation revealed that Bandal availed loans from SBSBL in the names of associated concerns of local businessmen and farmers by leveraging his influence and close association with Anil Bhosale, chairman of SBSBL.
He also utilised the lands of local farmers as mortgaged properties, significantly inflating their values compared to market rates, as noted in the forensic audit report.
Hanumant Kemdhare, the then loan superintendent of the bank, played a crucial role in sanctioning fraudulent loans at SBSBL from 2007 to 2013 and misused his position to recommend loans that were otherwise ineligible.
ED has already attached property of Anil and others in February 2023 worth ₹26 crore approximately and filed a prosecution complaint in April 2021 against Anil and other bank officials before the Special Court (PMLA), Mumbai. Further investigation is under progress, ED stated in its release.
Bandal was arrested by the ED on August 22 in connection with an alleged ₹494-crore fraud at SBSBL.
The agency also seized cash worth ₹25 lakh and froze fixed deposits worth ₹50 lakh during searches conducted at Bandal’s premises at the time of raid and subsequent arrest.
