E-Paper
Two credit society officials booked for alleged ₹34.77 crore loss
Deccan police filed case against CEO and divisional manager of Buldhana Urban Co-operative Credit Society for allegedly causing loss of ₹34.77 cr through irregular transactions, financial decisions
Prefer HTon Google
PUNE: Deccan police have registered a case against the chief executive officer (CEO) and a divisional manager of Buldhana Urban Co-operative Credit Society (BUCCS) for allegedly causing a financial loss of ₹34.77 crore through irregular transactions and financial decisions taken without the approval of the board of directors.
The accused have been identified as Shirish Dinkar Deshpande, 68, a Law College Road resident, and Yogini Yogesh Pokale, 44. Deshpande was the CEO of the society’s western division, while Pokale was a divisional manager.
The case was registered on Wednesday following a complaint by auditor Mohan Raghunath Dalal, 51, a Buldhana resident. According to the complaint, the alleged irregularities took place between January 1, 2018, and December 15, 2025.
Police said the irregularities came to light during an audit of the society’s accounts. Following the findings, the society terminated the services of Deshpande and Pokale in December 2025. It later conducted a forensic audit and submitted a complaint to police.
According to the complaint, Deshpande and Pokale allegedly misused their positions and violated the society’s rules and procedures. The allegations include sanctioning loans in violation of norms and availing loans at zero interest for their own benefit.
The two allegedly provided interest-free advances to Buldhana Urban Management Services Pvt Ltd. The complaint alleges that the company was shown as a subsidiary of the society and that a purportedly forged signature of the institution’s founder-chairman, Radheshyam Chandak, was used to grant it membership. The membership was later cancelled, it said.
The accused allegedly uploaded false balance sheets on the Registrar of Companies (ROC) website, according to the complaint.
Other alleged irregularities include purchasing property for the society without board approval, sanctioning loans without adequate collateral, waiving interest without approval and failing to deposit proceeds from the sale of mortgaged properties into the society’s accounts.
The complaint alleges that maintenance expenses were incurred without approval and additional amounts were deposited into borrowers’ accounts without their consent before being diverted to other bank accounts. Police are examining alleged irregularities in other accounts maintained by the society.
According to the statutory auditor’s report cited in the complaint, the alleged transactions and irregularities caused a financial loss of ₹34.77 crore to the society.
Sub-inspector Suhas Patil of the Economic Offences Wing (EOW), which is investigating the case, said police would examine the society’s financial records, loan documents, account statements and audit reports.
DCP (Zone I) Krushikesh Rawale said the case was registered at Deccan Police Station and transferred to EOW.
