Pune News: BJP leader Amar Mulchandani remanded to ED Custody in Seva Vikas Bank Scam
By: Pune Pulse
July 5, 2023
Pune: A special court in Mumbai has sent Amar Mulchandani, a prominent Bharatiya Janata Party (BJP) leader and ex-chairman of Seva Vikas Cooperative Bank, to the custody of the Enforcement Directorate (ED) in a bank scam amounting to Rs 429 crore. Mulchandani previously belonged to the Congress party.
The court has remanded Mulchandani to ED custody till July 7, granting the authorities time to investigate the case. His arrest was made on July 1 this year under the provisions of the Prevention of Money Laundering Act, 2002.
Previously associated with the Congress, Mulchandani switched to the BJP in 2016. He also held the position of a corporator in the Pimpri Chinchwad Municipal Corporation (PCMC). The ED’s custody will enable them to delve deeper into the allegations and gather more evidence regarding the scam.
The case highlights the ongoing efforts to tackle financial irregularities and fraudulent activities in the banking sector. As the investigation progresses, more details about the Seva Vikas Bank scam and Mulchandani’s involvement are expected to emerge.
