The state co-operation department and registrar of cooperative societies has ordered audit of Pimpri-based Seva Vikas Cooperative Bank Limited. Officials said that the audit and an enquiry will be done wherein loan accounts worth Rs 50 lakh will be scrutinised.
The order in this regard was issued by Satish Soni, Commissioner for Cooperation and Registrar, Coop. Societies, Maharashtra State, Pune, on February 14.
Officials said that there has been several frauds in the bank as loans were sanctioned without following guidelines of the Reserve Bank of India (RBI). In many cases, there no valid mortgages.
Dhanraj Aswani, former chairman of the bank, Yashvant Kedari, Sagar Suryawanshi and other members had filed complaints with the RBI and the commissioner for co-operation.
As per the complaint, the bank officials have formed a syndicate with a businessman and disbursed several loans. In many cases, the mortagaged assets were non-existent and many properties are under litigation.
As per the order of the commissioner, the loan accounts of the alleged defaulters including Fab India (Rs 5 crore), entrepreneur Vinay Arhana (Rs 9.35 crore), Deepti Enterprises (Rs 3 crore), Rosary Global (Rs 3 crore), and several others, will be verified.
The commissioner has directed RU Jadhavar, joint registrar of the state department of co-operation, to conduct the audit before March 31.