Bank of Maharashtra CEO arrested in Rs 2,000-cr fraud case
Bank of Maharashtra CEO Ravindra Marathe arrested in Rs 2,000-cr fraud case Ravindra Marathe, CEO and Managing Director of Bank of Maharashtra, and his predecessor Sushil Muhnot have been arrested for allegedly colluding with builder D S Kulkarni in Rs 2000 crore fraud case. Several others, including Rajendra Gupta, Executive Director, Bank of Maharashtra, Nityanand Deshpande, Zonal Manager Bank of Maharashtra, have also been arrested. Officials from Kulkarni’s DSK Developers Ltd, including its chartered accountant Sunil Ghatpande and vice-president, engineering Rajiv Newaskar, have also been arrested, police said. All have been charged with criminal conspiracy, cheating and corruption under various laws, police said. The arrests came after a local RTI activist, Vijay Kumbhar, sought details of the loans sanctioned to the developer. Kumbhar told reporters in Pune that Bank of Maharashtra officials had sanctioned loans to the builder without adequate documentation. Police sources say, that verification of various collateral submitted by the DSK group to obtain bank loans has resulted in the detection of the bank fraud. Fresh cases are likely to be filed against the Kulkarni family and the bankers, police sources said. -PTC News
