The Pune Police has arrested four officials of Bank of Maharashtra for wrongful disbursement of money to a Pune based builder, D.S Kulkarni.
Chief Managing Director of Bank of Maharashtra (BoM), Ravindra Marathe, Executive Director BoM, Rajendra Gupta, Zonal Manager BoM, Nityanand Deshpande and ex Chief Managing Director Sushil Muhnoot were amongst the names arrested.
As per the sources, the accused officials allegedly conspired with Kulkarni's company D.S Kulkarni Developers (DSKDL), and had been siphoning money under the garb of a loan.
Chartered Accountant of DSKDL, Sunil Ghatpande and Rajiv Newaskar, vice president of the Engineering Department of the DSKDL have also been arrested.
The accused have been sent to police custody till 27 June.
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