The who’s who of state politics will soon be in the hot seat to face an inquiry into the Rs 252-crore losses incurred until mid-2011 by the Maharashtra State Cooperative Bank (MSCB). The bank’s board of directors, responsible for making decisions till its dissolution in 2011, had members of the state cabinet led by Chief Minister Prithviraj Chavan and other legislators and ministers, mostly from the Nationalist Congress Party (NCP).u00a0

The MSCB directors’ board was dissolved on May 6, 2011, following an inspection report by the National Bank for Agriculture and Rural Development (Nabard) rebuking the bank — a powerhouse of state politics — for dissolving security norms among other things. It has since been under administrator’s rule.u00a0