Chhatrapati Sambhajinagar
The City Chowk police have registered a case against chairman Subhash Zambad, chief executive officer Pradeep Kulkarni and chartered accountant Satish Mohare in connection with the irregularities to the tune of Rs 97.41 crore in the Ajanta Urban Cooperative Bank.
The police arrested Mohare immediately. The case was registered based on the bank administrator and district special auditor Suresh Kakade’s complaint.
Reserve Bank of India (RBI) had imposed a ban on the transactions of the bank owing to the dubious economic transactions and appointed Suresh Kakade as the administrator. In the audit, a huge deficit was found in the net worth and Capital to Risk Weighted Asset Ratio of the bank. Similarly, unsafe loans worth Rs 64.60 crore were given to 36 applicants. The bank accepted this fact in a letter sent to the RBI on December 23, 2022.
The administrator has lodged a complaint for illegal loan distribution, wrong entries and other aspects.
The case has been handed over to the economic offences wing. ACP Dhananjay Patil and PI Sambhaji Pawar are investigating the case.
Why CA is accused?
CA Satish Mohare did auditing of the Ajanta Urban Bank in 2022-23. However, he did not mention about 36 cases of illegal loans. Also, he allegedly made bogus certificate saying that the Ajanta Bank had deposits worth Rs 32.81 crore in the State Bank of India, Axis Bank and MSC Bank making a fake balance sheet.