The Enforcement Directorate has arrested four persons, including NCP politician Anil Shivajirao Bhosale, for allegedly siphoning off funds from the Shivaji Bhosle Cooperative Bank Limited in Pune. The agency has got their five-day custody.
The other accused are Suryaji Pandurang Jadhav, Tanaji Dattu Padwal and Shailesh Bhosale. The four were earlier lodged in the Yervada jail in connection with an FIR registered by the police.
The police case pertained to the discrepancies found by an RBI team during its periodical visit to the head office of the bank on April 26, 2019. As per the RBI directions to the statutory auditor of the bank for verification of cash record, it was noticed that the entry of ₹71.78 crore in cash was kept pending at the bank’s head office in the cash book.
Anil Shivajirao Bhosale, a director of the bank, had allegedly misused his position and conspired with others to siphon off the amount from the bank and its branches, for personal gain. He along with his associates was earlier arrested by the Crime Branch, Pune.
According to the ED, the deposits were sanctioned as loans to different companies and entities, comparatively more than their repayment capacity. It resulted in most of the loan accounts becoming non-performing assets, causing huge losses to the bank.
