US EditionED Returns Rs 386 Crore in Properties to Compensate Victims of Rs 553 Crore Karnala Bank Fraud - The News21
Mumbai: In a significant development for over five lakh aggrieved depositors, the Enforcement Directorate (ED), Mumbai, has returned immovable properties worth ₹386 crore to the Competent Authority under the Maharashtra Protection of Interests of Depositors (MPID) Act. This move comes as part of efforts to recover losses incurred in the ₹553 crore fraud involving Karnala […]
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This case is related to Panvel based Karnala Nagari Sahakari Bank Ltd. It was alleged that the former chairman of this bank Vivekanand Shankar Patil along with other bank officials cheated the lender and transferred the money for personal investment.
ED Returns Rs 386 Crore in Properties to Compensate Victims of Rs 553 Crore Karnala Bank Fraud - The News21
Mumbai: In a significant development for over five lakh aggrieved depositors, the Enforcement Directorate (ED), Mumbai, has returned immovable properties worth ₹386 crore to the Competent Authority under the Maharashtra Protection of Interests of Depositors (MPID) Act. This move comes as part of efforts to recover losses incurred in the ₹553 crore fraud involving Karnala […]
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