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Maharashtra

ED Restitutes ₹386 Crore Worth Of Assets In Karnala Bank Fraud Case To Compensate 5 Lakh Depositors

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Mumbai: In a significant development in the Rs 560 crore Karnala Nagari Sahakari Bank fraud case, the Enforcement Directorate (ED) has restituted immovable assets worth Rs 386 crore to the Competent Authority appointed under the Maharashtra Protection of Interest of Depositors (MPID) Act. The move is a major step towards compensating over five lakh depositors, many of whom are senior citizens and small investors, who lost their savings following the bank’s collapse.

The restituted assets, now slated for auction, were previously provisionally attached by the ED during its money laundering probe. According to officials, the properties located across Panvel and Raigad districts were acquired using funds siphoned off through bogus loans issued in gross violation of Reserve Bank of India (RBI) norms.

Fraud Rooted in Fake Loan Accounts

The investigation stems from a First Information Report (FIR) registered on February 17, 2020, by the Economic Offences Wing (EOW), CID, Pune. The chargesheet alleges that the bank’sKarnala Charitable Trust former chairman, Mr. Vivekanand Shankar Patil, along with other senior officials, engaged in a criminal conspiracy to defraud the cooperative bank by creating 63 fictitious loan accounts using forged documentation. The fraud, reportedly operational since 2008, facilitated the diversion of approximately Rs 560 crore into entities controlled by Patil, including the Karnala Charitable Trust and the Karnala Sports Academy.

ED investigation revealed that the proceeds of crime were channelled through 63 fictitious accounts to disguise the fraudulent transactions. These funds were later diverted into multiple bank accounts held by entities associated with Patil and his relatives. The money was allegedly used for the construction of a sports complex, educational infrastructure, and other personal investments, while being projected as legitimate assets.

Main Accused in Judicial Custody Since 2021

Vivekanand Shankar Patil, a four-time legislator from the Raigad district and a former Member of the Maharashtra Legislative Council, is a prominent figure in the state’s cooperative movement. As chairman of the Karnala Nagari Sahakari Bank, Patil allegedly played a central role in orchestrating the fraud. The ED arrested him under provisions of the Prevention of Money Laundering Act (PMLA) in 2021. Patil has remained in judicial custody since his arrest.

The immovable properties in question, including a multi-acre sports academy in Panvel and a prime land parcel in Posari, Raigad district, were attached in two phases on August 17, 2021, and October 12, 2023. A prosecution complaint in the matter was filed before the Special PMLA Court in Mumbai on August 12, 2021, and trial proceedings are currently ongoing.

Court Authorises Liquidation for Repayment

The restitution was initiated after the Reserve Bank of India-appointed liquidator filed an application under Section 8(8) of the Prevention of Money Laundering Act (PMLA), seeking permission to auction the attached properties. The ED supported the request. Acting on the application, the Special PMLA Court, in an order dated July 22, 2025, authorised the auction of the Karnala Sports Academy and a land parcel in Posari. The proceeds from the sale will be used to compensate the bank’s depositors.

At the time of its collapse, Karnala Nagari Sahakari Bank held deposits worth ₹553 crore from over five lakh customers. Given the widespread financial damage, the ED stated it moved proactively to ensure the early handover of attached assets for liquidation and compensation.

Maharashtra

All India Sunni Jamiat Ulema to approach court against Vande Mataram

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The All India Sunni Jamiat Ulema has decided to approach the court against the recent government order regarding Vande Mataram.

It should be noted that the Government of India has recently issued an order, under which the recitation of Vande Mataram has been made mandatory in government functions and educational institutions. An important meeting was held today, February 17, at the All India Sunni Jamiat Ulema office in Mumbai against this order.

The meeting was presided over by Haj Muhammad Saeed Noori, Vice President of the All India Sunni Jamiat Ulema. On this occasion, he said that the President of the organization, Hazrat Allama Syed Moinuddin Ashraf Ashrafi Jilani Sahib Qibla (known as Moin Mian Sahib), who has gone to Baghdad Sharif these days, has directed through phone to approach the court in this matter.

Haj Muhammad Saeed Noori said that there are some words in Vande Mataram that Muslims cannot recite on the basis of their faith, as they are against their religious beliefs. He said that this order can be termed as coercion against Muslims, Sikhs and Christians and is against the secular structure of the Republic of India, while the Constitution of India provides complete freedom to every citizen to practice his religion.

The meeting emphasized that the government should immediately withdraw this order, so that constitutional rights and religious freedoms can be ensured.

The meeting was attended by Hazrat Maulana Muhammad Amanullah Raza Sahib, Khatib and Imam of Masjid Quba, Hazrat Maulana Khalil-ur-Rehman Noori Sahib Qibla, Hazrat Maulana Farid-ul-Zaman Sahib Qibla, Hazrat Maulana Mufti Muhammad Manzar Hasan Khan Ashrafi Misbahi Sahib, Hazrat Maulana Qamar Raza Ashrafi Sahib, Hazrat Maulana Muhammad Shafiq Alam Noori Sahib, Hazrat Qari Niaz Ahmed Qadri Sahib Qulaba, Hazrat Qari Shahzad Sahib and others, as well as intellectuals.

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Maharashtra

Ajit Pawar Plane Crash: AAIB Retrieves Flight Data Recorder From Learjet Crash In Baramati, CVR Analysis Underway

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Mumbai: The Aircraft Accident Investigation Bureau (AAIB) on Tuesday provided an official update on the ongoing investigation into the Learjet 45 aircraft (VT-SSK) accident that occurred at Baramati on January 28, 2026. The probe is being conducted in strict accordance with the Aircraft (Investigation of Accidents and Incidents) Rules, 2017, as well as international standards and recommended practices laid down under ICAO Annex 13.

Flight Data Recorders Suffer Major Fire Damage

In a statement issued by the Press Information Bureau (PIB), the AAIB said the aircraft was fitted with two independent flight recorders, a Digital Flight Data Recorder (DFDR) and a Cockpit Voice Recorder (CVR). Both recorders were exposed to intense heat for a prolonged period during the accident and suffered major fire damage.

Despite the damage, the AAIB confirmed that data from the DFDR has been successfully downloaded at the Bureau’s Flight Recorder Laboratory. The DFDR, manufactured by L3 Communications, is expected to provide critical technical information related to the aircraft’s flight parameters leading up to the crash.

The Cockpit Voice Recorder, manufactured by Honeywell, is currently undergoing detailed technical examination. According to the AAIB, assistance has been sought from the accredited representative of the State of Manufacture to provide specialised support for extracting and analysing the CVR data. Investigators believe the CVR could offer crucial insights into cockpit communications and crew actions prior to the accident.

The crash of the Learjet 45 at Baramati on January 28 claimed the lives of Maharashtra Deputy Chief Minister Ajit Pawar and four others, making the incident one of the most serious aviation accidents in recent times. The findings of the flight recorder analysis are expected to play a key role in establishing the sequence of events and possible causes behind the tragedy.

The AAIB emphasised that it is following all prescribed technical and procedural protocols to ensure the investigation remains comprehensive, objective and evidence-based. The Bureau reiterated its commitment to transparency, stating that further information will be shared at an appropriate stage once verified conclusions are reached.

AAIB Urges All To Refrain From Speculation As Probe Continues

In its statement, the AAIB also urged all stakeholders, including the public and media, to refrain from speculation while the investigation is in progress. “The Bureau respectfully requests all stakeholders to allow the investigation process to proceed in accordance with established procedures,” the statement said.

The AAIB added that efforts are continuing to retrieve usable data from the CVR, which, together with DFDR findings and other evidence, will contribute to the final accident report.

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Crime

Palghar: 15-Year-Old Boy Allegedly Murders Elderly Aunt In Vasai With Friend’s Help After Being Scolded

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Vasai: In a shocking incident, a 15-year-old boy, along with a minor friend, allegedly murdered his 65-year-old aunt in Vasai after she scolded him. The Manikpur police have apprehended both minors in connection with the crime.

The deceased, identified as Durga Bansode, resided alone in the Bhimai Bungalow in Barhampur village, Vasai (West). While her married daughter lives in Boisar and her son resides in Waliv, Bansode managed the household on her own. Her body was discovered inside the bungalow on Monday morning.

During the investigation, Manikpur police discovered that Bansode’s 15-year-old nephew frequently visited her. Upon being questioned, the teenager confessed to the murder.

On Sunday, the nephew visited his aunt as usual. An argument broke out over a trivial matter, and Bansode scolded him.

Enraged by the scolding, the boy called a friend over. While his aunt was caught off guard, the nephew struck her on the back of the head with a bamboo stick, killing her instantly.

The two minors reportedly tried to hide the body inside a bed storage compartment but failed. They subsequently fled the scene.

The police revealed that the nephew is a school dropout. This was not his first run in with his aunt; three months prior, he had allegedly committed a theft at her residence. Following that incident, Durga Bansode had moved all her jewelry to a bank locker for safety.

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