Zambad’s custody extended by two days

Chhatrapati Sambhajinagar: Sessions judge P P Sharma has extended the police custody of former MLC Subhash Zambad until February 20 in connection with the ₹97.41 crore misappropriation case at Ajintha Urban Cooperative Bank.

Zambad was arrested by the Economic Offences Wing on February 7. The case involves the distribution of unsecured loans amounting to ₹64.60 crore to 36 borrowers. Additionally, fraudulent entries related to fixed deposits worth ₹64.60 crore were allegedly made in the bank’s ledger between 2006 and 2023. Zambad was presented before the court on Tuesday afternoon, following which the extension of his custody was granted.