FIR against Pune bank
Pune: Criminal proceedings against 15 members of the board of directors of the Rs 272 crore Shree Sadguru Jangli Maharaj Cooperative Bank, three directors of the controversial brokering firm Home Trade Ltd, one present and past general manager of the bank and one officer have been launched by state cooperative department.

The district audit officer of Pune has filed a police complaint against the accused charging them with misuse of power, falsification of account, misapropriation of funds, cheating and other offences under section 420, 406, 408, 409, 465, 467, 477 and 34 of the IPC.

Investigations by the audit conducted by state cooperative department has clearly established that the accused have misappropriated funds to the tune of Rs 48.53 crore.

The cooperative department which carried out special audit had indicted 19 persons including the board of directors, former chairman, present and former general and internal auditors.
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Amravati bank under a cloud now
Pune: Suspecting the Amravati Peoples Bank to be involved in a Rs 9.5 crore scam, similar to scams unearthed recently in cooperative banks in the state, the commissioner of cooperative has issued a notice to the bank asking as to why its board of directors should not be dissolved.

The bank is suspected to be involved in a scam similar to that of co-op banks in Nagpur and Pune, whose face value is to the tune of Rs 9.5 crore, commissioner Ratnakar Gaikwad told reporters here, adding that an enquiry into the functioning of this bank which has an asset base of Rs 96 crore will start.
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