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

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
Maharashtra Politics: Annasaheb Dange Returns To BJPt Afer 23 Years Ahead Of Civic Polls

Mumbai: Eyeing the upcoming elections to the local and civic bodies, the BJP on Wednesday welcomed Annasaheb Dange back to the party fold. Once known as the senior-most BJP leader, he had quit the party 23 years ago. He was welcomed by Devendra Fadnavis at the state BJP office.
The CM recalled his days as a young party activist, who worked with Dange during the tanker-free campaign in scarcity-hit areas. Dange hails from the Dhangar community, which has a sizable presence in the districts of Solapur, Satara, and Sangli (his native) in western Maharashtra. After Mahadeo Jankar, who heads Rashtriya Samaj Paksha, parted ways with the BJP, the party appears to have been looking for prominent faces from the community.
Dange was the second-in-command among the BJP ministers when the Shiv Sena-led coalition government assumed power in 1995. He was the leader of opposition in the legislative council and later became the rural development minister. Dismayed over the alleged mistreatment by senior leaders, Dange had joined the NCP in early 2002. He hails from Islampur, Sangli, which was recently renamed as Ishwarpur by the state government.
With strong RSS links, he worked zealously for the BJP in a district known as the Congress bastion back then. Dange was closely associated with Gopinath Munde, who was deputy CM between 1995 and 1999. Almost all the important decisions of the BJP were taken by the duo and it was Dange who used to be aggressive for the party cause during the decisionmaking process of the then government.
Maharashtra
Mumbai News: BMC Seeks Urgent Nod To Cut 95 Trees For Goregaon-Mulund Link Road Project

Mumbai: Following the Supreme Court’s in-principal approval to cut 95 trees in Goregaon East’s Film City for the Goregaon-Mulund Link Road (GMLR) project, the BMC is pressing for prompt tree removal permission to initiate excavation at the tunnel boring machine (TBM) launch site. Civic officials caution that any further delay could drive up project costs and impact timelines.
About The Tunnels
The tunnels will start at Film City in Goregaon East and emerge at Amar Junction in Mulund, currently a dense slum area. Of the total length, 5.30 km will be excavated using TBMs, with the remaining 1.35 km comprising approach roads and the box tunnel. Most components of the first TBM, imported from Japan for the excavation work of twin tunnels, have already arrived and are currently stored along Film City Road, approximately 1 km from the launch shaft site.
A massive pit—about 200 metres long, 50 metres wide, and 35 metres deep—will be excavated to lower and assemble the TBM for tunnelling work. “To begin digging this launch shaft, we need to clear the ground—hence, the felling of 95 trees is necessary,” said a senior civic official. The preliminary tunnelling phase comprises a 1.3 km box tunnel and ramp, sized 12m by 11.2m, linked to the launch shaft. Officials said that delays in tree clearance may drive up costs, as the contract includes a ‘No Limit’ clause allowing escalation for time overruns. The matter is scheduled for the next hearing in the apex court next week.
The BMC recently secured clearance from the Union Ministry of Environment, Forest and Climate Change (MoEF&CC) to divert 19.43 hectares of forest land for the Rs. 6,551-crore twin tunnel project. The civic body aims to complete the twin tunnels by October 2028. The 12.2-km GMLR will connect the Western Express Highway at Goregaon with the Eastern Express Highway at Mulund, cutting travel time from 75 to 25 minutes. The project, being executed in four phases, has a total cost of Rs. 14,000 crore Once complete, it will provide seamless east-west connectivity across Mumbai.
Maharashtra
Maharashtra Cyber Fraud: Dharashiv Youth Duped Of ₹1.2 Lakh By Scammers Posing As Dubai Police & Relative

Mumbai: A 19-year-old Dharashiv resident was duped of Rs 1.20 lakh after scammers posed as Dubai police and as his brother-in-law who works in a private company in Dubai.
About The Case
The victim first received a Facebook message from what he believed was his brother-in-law, claiming he had been caught by the Dubai police in a visa violation case and needed money for release. Soon after, he received a WhatsApp call from a person claiming to be a Dubai police officer, demanding Rs 7 lakh. After negotiations, the fraudster agreed to settle the matter for Rs 1.50 lakh.
The complainant informed his sister, who urged him to send the money. He transferred Rs 1.20 lakh through five online transactions to mobile numbers provided by the scammers. Later, the victim received a call from his actual brother-in-law, who said he had never been caught by the police. Realising he had been duped, the complainant lodged a complaint via the cybercrime helpline.
Case Registered
A case has been registered under sections 204 (impersonating a public servant) and 318 (cheating) of the Bharatiya Nyaya Sanhita, along with sections 66C (identity theft) and 66D (cheating by personation using computer resources) of the Information Technology Act.
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