Bank Of Maharashtra CMD arrested in Rs 3,000 cr fake loans case
Pune, June 20 : In a sudden development, the Economic Offences Wing (EOW) here arrested Ravindra P. Marathe, the Chairman and Managing Director of Bank of Maharashtra, in a case of Rs 3,000 crore fraudulent loans extended to Pune's DSK Group, an official said here on Wednesday.
The EOW has also arrested the bank's Executive Director Rajendra K. Gupta, Zonal Manager Nityanand Deshpande from Ahmedabad and former CMD Sushil Muhnot from Jaipur.
The 83-year-old Pune-headquartered Bank of Maharashtra is ranked among the major public sector banks in India.
Two officials of the DS Kulkarni Group, chartered accountant Sunil Ghatpande and VP Engineering Rajiv Newaskar, have also been arrested in the same case, the police said.
Marathe has been arrested for allegedly misusing his powers to sanction huge amounts of loans to shell companies.
According to the investigators, the bank executive and officials colluded with the DSK Group "with dishonest and fraudulent intentions to sanction and disburse the amount of the bank (BoM)" under the garb of loans and the money was later siphoned off.
All the arrested accused have been charged under various provisions of the Prevention of Corruption Act and other laws pertaining to cheating, forgery, criminal conspiracy and breach of trust.
The Pune-based mega group's owners D.S. Kulkarni and his wife Hemanti were arrested in February on charges of cheating over 4,000 investors of over Rs 1,150 crore and diverting bank loans of nearly Rs 2,900 crore.
As a follow-up in the case, last month, the Maharashtra government had ordered attachment of more than 120 properties, 275 bank accounts and four dozen vehicles belonging to the owners and the company invoking the provisions of Maharashtra Protection of Interests of Depositors Act, 1999.
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Delhi: Boy stabbed to death over 'controversial' social media comments, 2 juveniles held
New Delhi (PTI): A 16-year-old boy was stabbed to death at Ramleela ground in northwest Delhi for allegedly making social media comments that police described as "controversial", an official said on Wednesday.
According to the police, the assailants, also minors, attacked him with a knife, inflicting multiple stab wounds.
"A PCR call was received in the Shalimar Bagh Police Station regarding an injured boy lying in Ramleela ground. The police team reached the spot and found him with multiple stab wounds," a police officer said.
He was working as a labourer in a banquet hall for the last two days, the officer said. An FIR was registered and the police apprehended two juveniles in the case.
Preliminary investigation reveals that the deceased was stabbed due to an ongoing enmity, the officer said.
During questioning, the accused told the police that the victim had made "controversial comments" against them on social media. Following which, they intercepted him at Ramleela ground and stabbed him. He died on the spot, officer said.
"We have recovered a dagger and the victim's mobile phone. Further investigation in the case is underway," he added.
