Pune: Bank of Maharashtra (BoM) Chairman and Managing Director (CMD) Ravindra Marathe along with five others have been arrested in the Rs 3,000 crore DSK Group loan default case, Pune police said.
Besides Marathe, Bank of Maharashtra Executive Director Rajendra Gupta,DSK Group chartered accountant Sunil Ghatpande and DSK Group VP Engineering Department Rajiv Newaskar were arrested from Pune while Sushil Muhnot, the former CMD of the bank, was also nabbed from Jaipur in connection with this loan default.
The bank’s Zonal Manager Nityanand Deshpande was arrested from Ahmedabad, the Pune police said in a statement.
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 loansworth 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 police said in a statement.