Pune SBSBL money laundering case: ED Attaches Assets of Former Officials Worth ₹85 Crore
Pune SBSBL money laundering case: ED Attaches Assets of Former Officials Worth ₹85 Crore
The Enforcement Directorate (ED) has attached assets worth ₹85 crores, including properties in Pune, Solapur, and Ahmednagar belonging to Mangaldas Vittahlrao Bandal, former chairman of Pune Zilla Parishad, and bank staff Hanumant Sambhaji Khemdhare, Satish alias Yatish Jadhav, and their family members. The case is linked to the Pune-based Shivajirao Bhosale Sahakari Bank Limited (SBSBL) under the Prevention of Money Laundering Act (PMLA).
The ED initiated the probe following an FIR registered by Shivaji Nagar police in 2020 against Anil Shivajirao Bhosale, Suryaji Pandurang Jadhav, and others. The Economic Offences Wing (EOW) in Pune also filed chargesheets in the case.
Investigations revealed that Bandal used his influence to obtain loans from SBSBL for local businessmen and farmers, using inflated valuations of mortgaged lands. He also utilized the lands of local farmers as mortgaged properties, significantly inflating their values compared to market rates, as noted in the forensic audit report. Hanumant Kemdhare, the bank’s loan superintendent, played a key role in sanctioning fraudulent loans from 2007 to 2013, despite the loans being ineligible.
Earlier, in February 2023, the ED had attached properties worth ₹26 crore belonging to Anil Bhosale and others. A prosecution complaint was filed in April 2021 against Anil and other bank officials in the Special Court (PMLA), Mumbai.
Bandal was arrested by the ED on August 22, 2023, in connection with a ₹494 crore fraud at SBSBL. During searches at Bandal’s premises, ED seized ₹25 lakh in cash and froze fixed deposits worth ₹50 lakh. The investigation is ongoing, according to the ED’s statement.
