In a crackdown on alleged corruption among bank officials, the Pune police on Wednesday arrested the chief executive of state-run lender Bank of Maharashtra (BoM) and his immediate predecessor as well as one executive director, apart from other officials.
The police arrested six persons, including BoM’s MD & CEO Ravindra Marathe and its former chairman and managing director (CMD) Sushil Muhnot, for allegedly misusing powers while extending loan to a real estate developer.
Mr. Marathe was arrested from Pune and Mr. Muhnot was picked up from Jaipur for advancing loans to the ₹2,000 crore fraud-accused D.S. Kulkarni group in ‘violation of norms.’
Mr. Muhnot was sacked by the government in 2016, without citing any reasons, just days before his retirement.
Besides them, the Economic and Offences Wing teams arrested Rajendra Gupta, executive director (BoM), Sunil Ghatpande, D.S. Kulkarni’s chartered accountant and Rajeev Newaskar, vice-president, engineering department, DSK Developers Ltd (DSKDL) from Pune, and Nityanand Deshpande, zonal manager (BoM) from Ahmedabad.
The accused have been booked under Sections 120 B (criminal conspiracy), 406 (criminal breach of trust), and other relevant sections of the IPC and the Prevention of Corruption Act, said the police.
