ED arrests former Maharashtra MLA in money laundering case


PTI, Jun 16, 2021, 10:46 AM IST

Mumbai: The Enforcement Directorate (ED) has arrested former Maharashtra MLA Vivekanand S Patil in a money laundering case linked to an alleged fraud of over Rs 512 crore in a Panvel-located cooperative bank, officials said on Wednesday.

They said Patil, 66, was arrested by the central probe agency around 8:15 PM on Tuesday after his questioning at the ED office in the Ballard Estate area here.

The ex-MLA from the Peasants and Workers Party was arrested under sections of the Prevention of Money Laundering Act (PMLA) and is expected to be produced before a local court for further custody, they said.

The ED money laundering case is based on an FIR registered against him and about 75 others in February last year by the economic offences wing (EOW) of the Navi Mumbai police that alleged irregularities to the tune of Rs 512.54 crore in the Karnala Nagari Sahakari (cooperative) Bank that is headquartered in Panvel in the neighbouring Raigad district.

Police had named Patil, the former chairman of the cooperative bank who represented the Panvel assembly constituency in the past, as an accused along with the vice-chairman, chief executive officer and several others who had obtained loans from the institution.

The irregularities were revealed after an inspection of the bank’s operations by the Reserve Bank of India led to a special audit of the lender’s 17 branches, police said.

The RBI later had restricted withdrawals at Rs 500 per depositor across all accounts.

The police had pressed charges like criminal breach of trust, cheating among others under provisions of the Indian Penal Code, the Cooperative Societies Act and the Maharashtra Protection of Interest of Depositors Act in its FIR.

The bank is stated to have been established in 1996 under the Cooperative Bank Act after Vivekanand Patil received a licence from the RBI.

Udayavani is now on Telegram. Click here to join our channel and stay updated with the latest news.

Top News

JPC chairman Jagdambika Pal to visit K’taka on Nov 7 to meet farmers protesting Waqf notices

Indian boxer Mandeep Jangra wins WBF’s world title

IOA submits ‘Letter of Intent’ to host 2036 Olympics in India

CBDT allows tax officials to waive or reduce interest due from assessee

Like UP, bring BJP to power in Jharkhand to ‘bulldoze’ mafia: Yogi at Koderma poll rally

Govt asks Wikipedia why it should not be treated as publisher instead of intermediary

Karnataka HC issues notice to CM, others on plea seeking transfer of MUDA case to CBI

Related Articles More

Indian boxer Mandeep Jangra wins WBF’s world title

Like UP, bring BJP to power in Jharkhand to ‘bulldoze’ mafia: Yogi at Koderma poll rally

Govt asks Wikipedia why it should not be treated as publisher instead of intermediary

SC upholds validity of UP madrassa law, says it does not violate principle of secularism

Delhi riots case: HC dismisses plea by Khalid Saifi against attempt to murder charge

MUST WATCH

Gho Pooja in Deepavali Festival

Melukote Deepavali

Ganapathi Co-operative Society Ltd

Udayavani Chinnara Banna 2024

Annapoorna Aahar | Food Places In Mysore


Latest Additions

Belagavi: Govt clerk found dead in Tehsildar’s chamber 

JPC chairman Jagdambika Pal to visit K’taka on Nov 7 to meet farmers protesting Waqf notices

Indian boxer Mandeep Jangra wins WBF’s world title

IOA submits ‘Letter of Intent’ to host 2036 Olympics in India

CBDT allows tax officials to waive or reduce interest due from assessee

Thanks for visiting Udayavani

You seem to have an Ad Blocker on.
To continue reading, please turn it off or whitelist Udayavani.