SIT to probe Maharashtra Cooperative Bank loan scam

first_imgThe Economic Offences Wing (EOW) has constituted a Special Investigation Team (SIT) to investigate the Maharashtra Cooperative Bank case. The first information report was registered on Monday. The EOW had registered an offence under the Indian Penal Code as well as Prevention of Corruption Act on directions of the Bombay High Court (HC), which is hearing a public interest litigation regarding the matter. The petitioner, Surinder Arora, had moved the HC in 2012. “Due to the seriousness of the case and the players involved, we have appointed an assistant commissioner of police-level officer as the investigating officer, who will head the SIT,” an EOW officer said.The officer said the SIT will first examine all the documents related to the case. “We will start with the inspection report prepared by the National Bank for Agriculture and Rural Development in 2011 as well as other reports connected to the matter. Documents of all financial transactions made by the bank from 2002 to 2017, during which the offence is alleged to have occurred, will also be studied. We have called for copies of these documents from the agencies as well as banks,” the officer said.He said the examination of documents is necessary to study the trail of money as well as to verify the allegations of fraudulent loans allegedly granted by the directors to various sugar mills and yarn-spinning units. The bank’s directors at the time include senior Nationalist Congress Party members like Ajit Pawar, Vijaysinh Mohite Patil and Anand Adsul.“We will only be able to fix responsibility after examining all the relevant documents and then mention the names of specific individuals as accused. The process is expected to take around a month, and the further course of action will be decided once this is complete,” the officer said.last_img

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