Yak Banking Concern Of Maharashtra Md & Ceo Arrested Inwards Loan Fraud Case

The Pune police pull today arrested Ravindra Marathe, the Managing Director together with Chief Executive Officer (MD & CEO) of Bank of Maharashtra, along amongst executive managing director RK Gupta for extending around Rs. xxx billion fraudulent loans to Pune-based DSK Group. Sushil Muhnot, the old CMD of the bank, was likewise nabbed from Jaipur inward connectedness amongst the loan default.

Marathe was appointed every bit the Dr. together with Chief Executive Officer of the banking concern inward September 2016, spell Gupta was appointed every bit the executive managing director of the banking concern inward Dec 2013.

Marathe was arrested for allegedly misusing his ability inward sanctioning loans to trounce companies. The banking concern had given loan on the same belongings iii to 4 times. The defendant convey been booked nether sections 120 B (criminal conspiracy), 406 (criminal breach of trust), 409 (Criminal breach of trust yesteryear populace servant, banker, merchant or agent), 420 (cheating), 465 (forgery) together with other relevant sections of the Indian Penal Code together with the Prevention of Corruption Act.



According to a police pull statement, the banking concern officers colluded amongst DSKDL yesteryear misusing their ability together with authorization amongst dishonest together with fraudulent intention to sanction together with disburse the sum of banking concern nether the garb of loan which was siphoned off.

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