Maharashtra CID Cracks Down on Loan and Land Scam

Shital Tejwani, linked to the Mundhwa land deal and accused in a massive loan scam with Seva Vikas Cooperative Bank, has been arrested by Maharashtra CID. The charges involve unauthorized loan usage, including purchasing luxury vehicles, leading to an outstanding debt of over Rs 20.49 crore.

The Maharashtra Crime Investigation Department (CID) has taken Shital Tejwani into custody over connections to the Mundhwa land deal in Pune and a substantial loan fraud. Her arrest relates specifically to her alleged involvement with improper loan dealings at Seva Vikas Cooperative Bank, police confirmed on Monday.

Tejwani previously held power of attorney for a high-profile Rs 300-crore land transaction in Pune, which implicated political figures. Her arrest now includes accusations of loan default in the amount exceeding Rs 7.25 crore. Tejwani was remanded to police custody until January 6.

Investigations suggest she diverted funds from vehicle and business loans for unauthorized uses, including buying a second-hand Lamborghini. The case forms part of a broader Rs 238 crore loan scam at the bank, with Tejwani defaulting on six accounts. Authorities also uncovered a fake registration certificate for the car.

(With inputs from agencies.)