The assets include a sprawling sports academy and a land parcel in Panvel, both of which were previously attached by investigative agencies. Patil, a three-time MLA from Panvel and once from Uran under the Peasants and Workers Party of India, is the prime accused in the case
The Enforcement Directorate is also probing related money laundering charges and holds overlapping attachments on some of the properties. Representational Pic
A special anti-money laundering court has directed the auction of properties linked to former MLA Vivekanand Shankar Patil to help repay creditors of the Panvel-based Karnala Nagari Sahakari Bank, which is embroiled in a fraud case exceeding Rs 512 crore.
The assets include a sprawling sports academy and a land parcel in Panvel, both of which were previously attached by investigative agencies. Patil, a three-time MLA from Panvel and once from Uran under the Peasants and Workers Party of India, is the prime accused in the case, as per the news agency PTI.
A total of 87 properties—some of them ancestral—have been attached under the Maharashtra Protection of Interest of Depositors (MPID) Act by Navi Mumbai police’s Economic Offences Wing. The Enforcement Directorate (ED) is also probing related money laundering charges and holds overlapping attachments on some of these properties, according to the news agency PTI.
Special PMLA Judge Satyanarayan Navander on Tuesday ordered the release of these attached properties, allowing a plea by the bank's liquidator.
The liquidator had sought release of Karnala Sports Academy and a plot of land, both located in Panvel taluka, to discharge the bank's liabilities to its creditors, including depositors.
All the parties, including the accused, had given their no objection to proceed with the auction of these properties.
Given the consensus among all parties, the court deemed it proper to make the attachment of these two properties absolute. It then directed the immediate commencement of the auction process in the interest of the bank's depositors, as per news agency PTI.
The ED case is based on an FIR registered against Patil and 75 others in February 2020 by the Economic Offences Wing, which had alleged irregularities of Rs 512.54 crore in the Panvel-headquartered Karnala co-operative bank.
Four pose as BMC staff, defraud bank of Rs 63 lakh
In another similar incident, the Andheri MIDC police registered a complaint against four individuals for allegedly fraudulently securing a loan of nearly Rs 63 lakh from ICICI Bank through online banking and defaulting on the EMIs.
According to the complainant, Devendra Nayak, 35, who works as a loan relationship manager at ICICI Bank in Thane, the accused posed as Brihanmumbai Municipal Corporation (BMC) employees to secure the loan of Rs 62,81,531 and defaulted.
(With inputs from PTI)
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