Vivekanand Shankar Patil, a four-time legislator, who has been imprisoned for the last two years in connection with a Rs 512 crore fraud and forgery case involving Karnala Nagari Sahakari Bank (KNSB), has announced his retirement from active politics. He has also resigned from all positions within the Peasants and Workers Party of India (PWP).
Patil, presently confined in Taloja jail, communicated his decision through a written letter, citing his declining health as the motive behind his choice.
In the letter, he stated, "Due to my deteriorating physical health, I am no longer able to continue working. Furthermore, considering my ill health, I am resigning from the PWP and retiring from active politics."
Throughout his 20-year tenure as an MLA, he addressed the concerning matter of lady service bars in Panvel, which were believed to have a negative impact on the younger generation. As a result of his efforts, the then State Home Minister R. R. Patil imposed a ban on such establishments across the state.
A report from the special auditor of the Cooperation Department in Raigad named former MLA and founder-chairman Patil as a primary accused in the Rs 512,54,53,268 scam involving KNSB. The report also implicated 12 members of the bank management and 64 borrowers. Allegedly, they misappropriated a substantial amount of cooperative bank funds under the pretext of loans. According to the report, loans were disbursed without proper property mortgages, based on fake documents, and remained unrecovered. Additionally, loans were granted to trusts owned by Patil.