The State Criminal Investigation Department (CID-Crime) has taken over the probe into the ₹512.52 crore fraud at Karnala Nagari Sahakari Bank in Panvel, the Navi Mumbai Police said on Friday.
The FIR in the case was registered on February 17 at Panvel City police station after Umesh Tupe, Raigad district special auditor of the cooperation department, filed a complaint. The auditor’s report hinted at manipulation and forgery in disbursement of loans by the bank since 2008.
The Economic Offences Wing, Unit II, of the Navi Mumbai Police then took over the case. Charges were booked against 76 accused, including Vivekanand Patil, the bank’s chairman and former MLA from the Peasants and Workers Party of India; the bank’s vice-chairman, CEO and its board of directors.
Of the accused, 62 are people who took loans without surety. The loan amounts were allegedly transferred to a trust run by Mr. Patil.
Navi Mumbai Police Commissioner Sanjay Kumar had requested the CID-Crime to take over the investigation. Pravin Patilm, Deputy Commissioner of Police, Crime Branch, said, “The investigation of this case is very vast. Presently, it has around 62 bank accounts, which needs to be investigated thoroughly. More such bank accounts might crop up in further investigations. A dedicated team is ideally required for such investigation and the request was made to the State CID to take over the probe.”
The case was registered under Sections 420 (cheating), 409 (criminal breach of trust) and 468 (forgery for cheating) of the Indian Penal Code along with the provisions of the Cooperative Societies Act and the Maharashtra Protection of Interest of Depositors Act.