EOW arrests V-P, Director of Adarsh Bank scam

Lokmat News Network

Chhatrapati Sambhajinagar: The Economic Offenses Wing (EOW) on Thursday have arrested Vice-President Mahendra Jagdish Deshmukh (N-2) and Bhausaheb Malhar Jagtap (Nilajgaon in Paithan tehsil) in connection with the Rs 200 crore Adarsh Urban Co-operative Bank scam. When produced in the court the duo were awarded police custody remand until September 10, said the Police Inspector Sambhaji Pawar.

Earlier, the government has approved the seizure of 46 assets belonging to Manakape. However, the V-P Deshmukh and Director Jagtap had been absconding since the filing of the case. They were continuously trying to obtain anticipatory bail, but their applications were rejected by the court, leading to their ongoing search by the police. The Police Inspector Sambhaji Pawar and Assistant Police Inspector Mohsin Sayyed (of EOW) arrested the duo.

PCR until Sept 10

Jagtap and Deshmukh were presented in court on Thursday afternoon. The audit revealed that out of 108 loan files, several involved loans of crores being sanctioned and disbursed on the same day. The government argued in court that it is essential to question how Jagtap and Deshmukh benefited from this, where they invested, whether they possess any documents or evidence related to the bank, and whether Manakape acquired any other assets. The court then ordered that both be held in police custody until September 10.