Bank of Maharashtra CMD Ravindra Marathe arrested in DSK fraud case

ST Correspondent
Wednesday, 20 June 2018

According to police the bank officials were in hand-in-glove with DSKDL and sanctioned them loans illegally and with fraudulent intentions

Pune: Three senior officials of Bank of Maharastra including it's Chairman and Managing Director has been arrested by the Economic Offences Wing of Pune Police for their alleged role of in multicrore DSK fraud case.

Beside Ravindra Marathe, police has also arrested Bank of Maharashtra 's Executive Director R.K. Gupta and it's Zonal Manager Nityanand Deshpande.

Police has also arrested former CMD of Bank of Maharashtra Sushil Munhot from Jaipur along with Sunil Ghatpande who is Chartered Accountant of DSK and Rajiv Newaskar, VP of Engineering Department of DSK

According to police the bank officials were in hand-in-glove with DSKDL and sanctioned them loans illegally and with fraudulent intentions.

They have been arrested 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.

'Bank officers colluded with DSKDL by misusing their power and authority with dishonest and fraudulant intention to sanction and disburse the amount of Bank under the garb of loan which was siphoned off', claimed an officer.

Related News