EOW probes bank officials accused of swindling Rs 85 crore

MUMBAI: The Economic Offences Wing (EOW) of the Mumbai police are investigating a case of an alleged criminal breach of trust by a co-operative bank. According to

MUMBAI: The Economic Offences Wing (EOW) of the Mumbai police are investigating a case of an alleged criminal breach of trust by a co-operative bank. According to the complainant, the bank officials are responsible for misappropriation of funds worth Rs 85.49 crore.

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The case was registered with the Shivaji Park police station by a 46-year-old auditor, Prakash Mandhare, against two senior bank officials of Chandraseniya Kayastha Prabhu (CKP) co-operative bank and 21 others. An FIR was registered on Monday and the case was handed over to the EOW. The bank’s branch on Senapati Bapat Marg in Dadar is currently under scrutiny.

According to the FIR, the alleged crime took place between 1 April, 2011 and 31 March, 2012. The main accused are the principal and director of this bank who were in charge of the branch then. Auditor Mandhare claimed that the accused did not adhere to the banking rules and committed irregularities in the sale deed agreements, non-banking assets, debit account, nonperforming assets etc. He also alleged that they gave loans over the permissible limit and did not disclose this to the auditor .

Police inspector Gangadhar Sonawane said, “Based on the allegations, we have registered an FIR and forwarded the case to EOW for further investigation.”