Category Archives: maharashtra

banking, crime, finance, investigation, maharashtra

Maharashtra News: CBI Initiates Probe Against Pune Firm For ₹16 Crore SBI Fraud

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**CBI Initiates Probe Against Private Firm for Rs 16 Crore Fraud on State Bank of India**

*Mumbai:* The Central Bureau of Investigation (CBI) has launched an investigation against a private firm for allegedly causing a loss of over Rs 16 crore to the State Bank of India (SBI).

**Complaint Filed by SBI**

According to the CBI, a complaint was received from Kumar Parimal Prem, Deputy General Manager of SBI’s Administrative Office in Pune. The complaint alleges that a Pune-based borrower company—a registered partnership firm engaged in real estate and construction activities—and its partners, in criminal conspiracy with unknown bank officials and other private individuals, cheated the bank to the tune of Rs 16.35 crores by fraudulently availing credit facilities.

**Modus Operandi**

The complaint reveals that between 2017 and 2023, the accused conspired to cheat SBI’s Small Industries Branch in Pune by availing loans through misrepresentation of data and fraudulent diversion of funds disbursed under credit facilities. These funds were sanctioned for the construction of residential apartments in Pune.

The borrower company and its partners submitted false financial statements, misrepresented their net worth and sources of margin money for the project, and provided bogus CA and engineer certificates to secure the disbursement of credit facilities, the CBI stated.

**Misappropriation of Funds**

The accused individuals allegedly diverted the disbursed funds for purposes other than those for which they were sanctioned. By doing so, they misappropriated the bank’s money, causing a wrongful loss amounting to Rs 16.35 crores to SBI while gaining illegally for themselves.

Furthermore, the partners defaulted on loan installments and interest payments. Consequently, the company’s loan account was classified as a Non-Performing Asset (NPA) on March 31, 2023. The account was further declared as fraudulent on February 28, 2024, a CBI official confirmed.

**FIR Registered**

Based on the SBI’s complaint, the CBI has registered a First Information Report (FIR) on charges of bank fraud under the relevant sections of the Indian Penal Code and the Prevention of Corruption Act.

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https://www.freepressjournal.in/mumbai/maharashtra-news-cbi-initiates-probe-against-pune-firm-for-16-crore-sbi-fraud

disaster, local news, maharashtra, public safety, weather

Person with disability rescued from swollen river in Maharashtra`s Beed district

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A person with a disability was dramatically rescued from a flooded river in Takalsingh village, located in the Ashti tehsil of Maharashtra’s Beed district, amid relentless rainfall on Monday, police said.

The man was spotted being swept away by strong currents near the village, prompting five local youths to spring into action, reported news agency PTI. They tied ropes around their waists and bravely entered the raging waters to pull him to safety, officials confirmed. The man is currently receiving treatment at the Takalsingh Primary Health Centre, according to Head Constable Pravin Kshirsagar.

Heavy and continuous rains have created havoc in the region, severely disrupting connectivity across several villages, including Kada, Khilad, Suleman Devla, Shiral, Devi Nimgaon, and Dhanora. Multiple rivers and streams in the area are in spate, forcing authorities to shut down key bridges, including those on the Kada-Dhamangaon Highway and near Shiral, to prevent accidents, PTI reported.

Rising water levels in the Kada River along the Ahilyanagar-Beed highway have also led to warnings being issued for residents in low-lying areas. Local officials are urging caution as more rain is expected, and rescue teams remain on alert.

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### IMD Issues Yellow Alert for Mumbai, Palghar, and Thane as Rains Lash Parts of Maharashtra

The Indian Meteorological Department (IMD) on Monday issued a yellow alert for Mumbai, Palghar, and Thane districts in Maharashtra as heavy rains lashed parts of the state.

In a weather bulletin, the IMD predicted, “Thunderstorm accompanied with lightning, heavy rainfall and gusty winds (30-40 kmph) at isolated places in Mumbai on September 22.” A similar prediction was made for several parts of Maharashtra, including Thane and Palghar districts.

An orange alert was issued for Nashik, Jalgaon, Beed, Chhatrapati Sambhajinagar, and Ahilyanagar districts in Maharashtra, predicting “heavy to very heavy rainfall and thunderstorm with lightning and gusty winds at isolated places.”

Earlier in the day, the weather department, in its Mumbai weather updates, had forecast a partly cloudy sky for Mumbai city and its suburbs, with the possibility of moderate rainfall. Officials also warned of isolated thunderstorms accompanied by lightning, urging residents to remain cautious, particularly during peak travel hours.

(With inputs from PTI)
https://www.mid-day.com/news/india-news/article/marathwada-rains-person-with-disability-rescued-from-floodwaters-in-beed-23595280