The Pune Economic Offence Wing (EoW) has arrested Ravindra Marathe, the MD and CEO of Bank of Maharashtra (BoM) for colluding with the DS Kulkarni Group by sanctioning and later siphoning off the default loan worth Rs.3000 crore.
The the Pune EoW stated, “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.”
Apart from Ravindra Marathe, Executive Director of BoM, Rajendra Gupta, Ex-CMD of BoM, Sushil Muhnoot from Jaipur & Zonal Manager of BoM, Nityanand Deshpande from Ahmendabad were also arrested by Pune EOW team.
From DSK Group, Sunil Ghatpande CA of DSK and Rajiv Newaskar, VP Engineering Department of DSK are also detained by the Pune Police.
The charges alleged on these people are Under sec. 120(B), 406, 409, 420, 465, 467, 468, 471, 109 r/w 34 IPC & 13(1)(c) r/w 13(2) of PC Act.
In February 2018, DS Kulkarni, the Pune based builder and his wife Hemanti were arrested for conducting a fraud of Rs.1152 by cheating over 4000 people and later diverted Bank loan of Rs.2892 crore through unfair means.
In may 2018, provision of 124 properties, 276 bank accounts and 46 vehicles of DSK group were notified by the Maharashtra government in order to prevent the wealth of duping investors under the Act 1999.