Police have registered a case against Maharashtra Tourism Minister Vijaykumar Gavit, MLA Jaikumar Rawal and 41 others for alleged misappropriation of Rs 16 crore from the Dadasaheb Rawal Cooperative Bank here.
They were booked on Friday under IPC sections related to cheating, criminal conspiracy, misappropriation of property, criminal breach of trust and forgery, among others, police said on Saturday.
Mr. Gavit and Mr. Rawal are members of the bank’s Board of Directors.
One Sharad Madanrao Patil, a resident of Dondaicha town in this North Maharashtra district, had lodged a police complaint on October 20, 2009 alleging financial irregularities in the bank.
When police took no action, Mr. Patil knocked the doors of the Aurangabad bench of the Bombay High Court, which issued directives to register an offence.
The alleged misappropriation related to disbursement of loans by the bank, they added.