Ajanta Urban Bank’s Rs 97.41cr scam unveiled

Lokmat News Network

Chhatrapati Sambhajinagar

The scam of the Ajanta Urban Cooperative Bank worth RS 97.41 crore has come to the fore. Case has been registered with the City Chowk police station against the chairman Subhash Zambad, chief executive officer Pradeep Eknath Kulkarni and accountant Satish Mohare. The police have arrested Mohare immediately. The case has been registered based on the Bank administrator and district special auditor Suresh Pandit Kakade.

Reserve Bank of India (RBI) observed monetary embezzlement in the bank transactions and appointed Suresh Kakade as the administrator. In the bank audit, a huge deficit was found in the net worth and CRAR of the bank. Similarly, loans worth Rs 64.60 crore were distributed to 36 applicants. The fact came to the fore on December 23, 2022 and it was accepted by the bank to a letter sent to RBI.

The administrator had lodged a complaint of illegal loan distribution, wrong entries and other aspects.

The case has been handed over to the economic offense wing for further investigation. ACP Dhananjay Patil and PI Sambhaji Pawar are futher investigating the case.