Bank of Maharashtra CEO, ED held for Rs 3,000 Cr DSK Group default case
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According to allegations made by the Pune EoW, the arrested officials colluded with the DSK Group by entering into fraudulent transactions and sanctioned loans with was later siphoned off. All persons arrested have been booked for cheating, forgery criminal conspiracy, criminal breach of trust among others.
Pune-based builder DS Kulkarni and his wife Hemanti who were arrested in February this year are accused of cheating over 4,000 investors of Rs 1,154 crore and diverting bank loans worth Rs 2,892 crore.
“Bank officers colluded with DSK Developers Ltd by misusing their power & authority with dishonest and fraudulent intention to sanction & disburse the amount of bank under the garb of loan which was siphoned off,” the Pune EoW said in a statement.
Apart from current and former officials of Bank of Maharashtra, two persons from the DSK Group have also been arrested. Sunil Ghatpande, CA with the DSK Group, Rajiv Newaskar, Vice President in the engineering department and Nityanand Deshpande, zonal manager of Bank of Maharashtra have also been arrested.
Last month, the Maharashtra government has issued a notification to attach 124 properties, 276 bank accounts and 46 vehicles of Kulkarni, his wife and other officials of the DSK Group under the provisions of the Maharashtra Protection of Interests of Depositors (Financial Establishments) Act 1999 for duping investors. #casansaar (Source - Economic Times)
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