Pune: Ex-MLC Anil Bhosale held for fraud at bank promoted by

The Pune police on Tuesday night arrested Anil Bhosale, the promoter of the Pune-headquartered

Shivajirao Bhosale Cooperative Bank and three other officials for alleged fraud of over Rs 71 crore at the bank.

Anil Shivajirao Bhosale was an NCP leader and Member of Maharashtra Legislative Council (MLC).

In January, the police had registered a case against Bhosale, an MLC from NCP, his wife and 15-16 others, including

the board of directors, for alleged forgery, misappropriation and cheating.

"We have arrested Bhosale, Suryaji Jadhav, chief accountant Shailesh Bhosale and one Padwal on Tuesday," said a

senior official from Pune police. Police said that on the directions of Reserve Bank of

India, the complainant, who is an auditor, had conducted a financial audit of the year 2018-19 and found Rs 71,78,87,723

less in the 'cash in hand' segment of the bank. "All the accused colluded with each other and cheated

the bank by forging records," police had said. In October last year, the cooperative department of

the Maharashtra government dismissed the board of directors of the bank and appointed an administrator.

Special scrutiny conducted by the Reserve Bank of India in April 2019 revealed several "adverse" features and

"serious irregularities" in the functioning of the bank, the office of Commissioner of Cooperation had said.