Arrested Bank of Maharashtra MD hospitalised after complaining of chest pain

Marathe along with former BoM CMD Sushil Muhnot, Executive Director Rajendra Gupta, Zonal Manager Nityanand Deshpande were arrested yesterday in the cheating case lodged against DSK group.

Published: 21st June 2018 08:38 PM  |   Last Updated: 21st June 2018 09:08 PM   |  A+A-

Image for representational purpose only. (File Photo)


PUNE: MD and CEO of Bank Of Maharashtra (BoM) Ravindra Marathe, who was arrested in a cheating case, was admitted to a state-run hospital here in the early hours today after he complained of uneasiness and chest pain, an official said.

Marathe along with former BoM CMD Sushil Muhnot, Executive Director Rajendra Gupta, Zonal Manager Nityanand Deshpande were arrested yesterday in the cheating case lodged against prominent City-based real estate developer D S Kulkarni (DSK) and his wife, Hemanti.

Two D S Kulkarni Developers Ltd (DSKDL) employees -- CA Sunil Ghatpande and Rajiv Newaskar -- were also arrested yesterday.

"After Marathe complained of chest pain and uneasiness, we admitted him to the state-run Sassoon general hospital in the early hours today," said Nilesh More, Assistant Commissioner of Police (Cyber and Economic Wing) of the Pune Police.

According to sources, Marathe's blood pressure shot up and he was under observation at the state-run hospital.

Meanwhile, in its release issued here, the bank said its shareholders had reposed their faith and confidence in the bank and its leadership during the 15th annual general meeting held today.

"The shareholders acknowledged the team's impeccable service record and various efforts undertaken for steering the bank towards profit," the release said.

"The shareholders expressed their deep anguish over the manner in which MD & CEO, executive director and other officials of the bank were taken into custody for interrogation in connection with bank's lending to M/s D S Kulkarni Developers Ltd. They have reposed their faith on the bank's board and its top management," it added.

Yesterday, while seeking the custody of the BoM officials, the Economic Offences Wing (EOW) of the Pune Police told a local court that they did not adhere to the RBI guidelines and did not verify if the loan amount was being used only for the project for which it had been sought.

They were booked under various sections of the IPC and the Prevention of Corruption Act.

In May, the police had filed a 37,000-page charge sheet against Kulkarni and his wife in the case. As per the charge sheet, the total scam was worth Rs 2,043.18 crore.

The accused had floated nine different firms to syphon off the funds collected from 33,000 investors and fixed-deposit holders who were promised good returns on their FDs.

Of the total scam amount, the deposit and loan fraud was to the tune of Rs 1,083.7 crore, banking and non-financial institutions-related fraud of Rs 711.36 crore, debentures fraud of Rs 111.35 crore and fraud related to Phursungi land purchase was of Rs 136.77 crore, the EOW officials had said.

The police were probing the role of these bank officials for allegedly sanctioning loans to the builder without following due diligence.

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