Rajendra B. Pawar, Chairman and Director, Laxmibai Nagri Sahakari Patsanstha, accused of misappropriating ₹9.5 crore

By DCN Network
30 Nov 2022

PUNE: An FIR has been registered against the chairman along with the director in connection with the embezzlement of 6302 depositors have been defrauded by not returning their deposits and interest thereon. President Rajendra Pawar has been arrested by the police.

Special Accounts Inspector Jaisingh Gaikwad has filed a complaint in this matter. The police have filed a case against the credit institution's chairman Rajendra Baburao Pawar, controller Abhijit Bhosle, Vaishali Pawar, director Chandrasekhar Deshmukh, Sangappa Gore, Dilip Khule, Prasad Mane, Vijay Salve, Hemagi Bhosle, Pratima Vable.

They are accused of misappropriating funds from deposit accounts in credit institutions, approving loan cases using the borrower's KYC document without the borrower's consent to make bogus loan cases.