Ex-Chairman Ashok Dhawad, Board of Directors, others face police heat

Nagpur: In a damning revelation, it has come to the fore that the former Chairman Ashok Dhawad, Board of Directors and some office-bearers of Navodaya Urban Co-operative Bank Limited committed a loan fraud of Rs 38.75 crore with the connivance of a few ‘selected’ borrowers of the bank. With the fraud, all the accused duped the genuine depositors of their hard-earned money.

As the fraud came to light, Dhantoli police have tightened the noose around the accused by booking them under Sections 406, 409, 420, 120(b), 465, 467, 468, 471, 477 (a) of IPC read with Section 3 of Maharashtra Protection of Interest of Depositors Act and Sections 65, 66 (b) of Information Technology Act in the offence 181/2019. The scam is being investigated by the Economic Offences Wing (EoW) of Nagpur police after Dhantoli Police had booked former Chairman Dhawad, Board of Directors, office-bearers, officers…

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