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.
Bollywood
Tiger Shroff firing case: 12th accused sent to police custody till Nov 6

A Mumbai court on Saturday sent Amar, the 12th accused arrested from Haryana’s Sonipat in connection with the firing incident on Bollywood actor Tiger Shroff, to police custody till November 6.
On Thursday, a special Maharashtra Control of Organised Crime Act (MCOCA) court had sent 11 other accused arrested in connection with the firing on Shroff’s car to police custody till November 6.
The latest accused was arrested from Rohna village in Sonipat.
Earlier in the day, the Mumbai Police had produced Amar before a court, which sent him to police custody until November 6.
According to officials, Amar is accused of having transferred money, allegedly used in the commission of the crime, online. The funds were reportedly used for various expenses, including the purchase of a motorcycle and booking hotel rooms linked to the case.
According to the preliminary investigation, Amar is a friend and neighbour of Kunal, who was arrested earlier in the case. Police investigations have revealed that Kunal allegedly transferred Rs 40,000 to Amar’s bank account.
Amar subsequently transferred Rs 12,000 to Radha’s bank account, another accused arrested earlier, allegedly on Kunal’s instructions.
The Mumbai Police are investigating these financial transactions to establish the purpose of the transfers and determine the connections between the accused. The money trail is being examined as part of the wider investigation into the firing incident.
Amar, who studied up to Class 10, works at a supplements shop. His parents reportedly earn their livelihood through daily-wage labour.
Meanwhile, Amar’s family has claimed that he is innocent and alleged that he has been falsely implicated in the case.
With nine of the 12 arrested accused reportedly belonging to Sonipat, the district has emerged as a key focus of the Mumbai Police investigation.
The police are examining the financial dealings and personal connections among the accused to establish the sequence of events and identify the roles played by individual suspects.
Maharashtra
36-year-old absconding accused arrested from Gujarat in Mumbai non-bailable warrant

Mumbai: The Mumbai Crime Branch has claimed the arrest of a wanted suspect, against whom a non-bailable warrant had been issued by the court in connection with a theft case. The 29-year-old complainant was en route to deliver diamonds, gold jewelry, and cash from his shop when, in front of the main entrance of the Panchratna Building, four unidentified individuals—acting in conspiracy—threatened him with a revolver and a knife. They injured him and forcibly stole the diamonds, jewelry, and cash, valued at approximately 2,048,964 rupees. A case was subsequently registered at the D.B. Marg Police Station. Following further investigation by Crime Branch Unit 2, a charge sheet was filed in court. The 59-year-old suspect involved in this crime had repeatedly failed to appear in court during the proceedings, leading to the issuance of a non-bailable warrant against him. The Crime Branch carried out this operation to execute the said warrant.
Acting on direct intelligence and technical analysis, the police team tracked down the 59-year-old suspect—who was a wanted individual subject to a non-bailable warrant—and took him into custody on October 30th in Gaonpur, Vadodara district, Gujarat. This operation was conducted under the directives of Mumbai Police Commissioner Deven Bharti, with the involvement of Joint Police Commissioner Anil Kumbhare, Additional Commissioner Krishna Kant Upadhyay, and DCP Raj Tilak Roshan.
Maharashtra
Mumbai Crime Branch succeeds in Mumbai kidnapping case, convicts accused

In a kidnapping case in Mumbai, the accused have been found guilty following the prosecution’s presentation of the case by the Crime Branch. Based on the evidence provided, the court convicted the accused and handed down sentences. On August 3, 2018, within the jurisdiction of the Kurla V.B. Nagar Police Station, a 13-year-old boy was abducted by unknown individuals while he was alone at home. A complaint was filed at the Vinoba Bhave Nagar Police Station, and a case was registered under Section 363 of the Indian Penal Code (Case No. 223/2018). Given the highly sensitive nature of the crime, the investigation was transferred to Crime Branch Unit 4, Mumbai. Subsequently, the case was re-registered by the Crime Branch (Case No. 47/2018), and the investigation was initiated. During the investigation into the aforementioned crime, five suspects were apprehended on August 6, 2018, and the kidnapped boy was successfully recovered. Following the collection of all evidence against the suspects, a charge sheet was filed in court—invoking Sections 363, 364(A), 328, 365, 324, 343, 506, and 120(B) of the IPC, along with Section 37(1) of the PESCO Act. On September 30, 2026, the court handed down sentences to the accused: 3 years under Section 328, 2 years under Section 363, 2 years under Section 324, and 1 year under Section 343, in addition to a fine of Rs. 3,500. This operation was carried out under the supervision of Mumbai Police Commissioner Deven Bharti, Joint Police Commissioner Anil Kumbhare, and DCP Raj Tilak Roshan.
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