Maha: case for `bank fraud' against NCP MLC, others

A case has been registered against 16 people including an NCP Member of the Legislative Council for an alleged fraud of over Rs 71 crore at the Shivajirao Bhosale Cooperative Bank here, the police said on Thursday. The case was filed on Wednesday against MLC Anil Shivajirao Bhosale, his wife Reshma Bhosale and other directors of the bank for forgery and cheating, an official of Shivajinagar police station said.

Bhosale is the promoter of the bank. His wife is a BJP corporator. The complaint was filed by the auditor who had conducted a financial audit of the bank for 2018-19 on the Reserve Bank of India's directions.

The audit allegedly found a shortfall of over Rs 71 crore in cash-on-hand segment, the police official said. "The accused colluded with each other and cheated the bank by forging records," he added.

The state cooperative department had dismissed the board of directors of the bank in October 2019 and appointed an administrator. Earlier, a special scrutiny conducted by the RBI in April had revealed several "adverse" features and "serious irregularities" in the functioning of the bank, as per the Commissioner of Cooperation.

The case was registered under Indian Penal Code sections 406 (criminal breach of trust), 420 (cheating) and 468 (forgery for cheating). No arrest has been made yet..

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