Buldana Urban Co-op Credit Society Fraud Case: CEO, Manager Booked Over Rs 34.77 Crore Loss
Pune, 10th September 2026: A case has been registered against the Chief Executive Officer and a divisional manager of Buldana Urban Co-op Credit Society for allegedly causing a financial loss of ₹34.77 crore to the society by manipulating accounts and carrying out financial transactions without the approval of the board of directors.
The accused have been identified as Chief Executive Officer Shirish Dinkar Deshpande (68), a resident of Law College Road, and divisional manager Yogini Yogesh Pokale (44), along with others.
The complaint was filed at Deccan Police Station by auditor Mohan Raghunath Dalal (51), a resident of Buldana. According to the complaint, the alleged irregularities took place between January 1, 2018, and December 15, 2025.
According to police, Deshpande was the Chief Executive Officer of the western division of Buldana Urban Co-op Credit Society, while Pokale was serving as a divisional manager. An audit report had allegedly revealed financial irregularities involving the two, following which they were removed from the society in December 2025.
The society subsequently conducted a forensic audit of its accounts. Based on the findings, Dalal filed the complaint on behalf of the society, following which the police registered a case.
Alleged Financial Irregularities
According to the complaint, Deshpande and Pokale allegedly misused their positions and violated the society’s rules while carrying out various financial transactions.
The allegations include sanctioning loans in violation of prescribed procedures, obtaining loans at zero per cent interest for their own benefit, and providing interest-free advances to Buldana Urban Management Services Pvt Ltd for the company’s benefit.
The complaint further alleges that the company was shown as a subsidiary of the society and that its membership was allegedly created using a forged signature of the society’s founder-chairman, Radheshyam Chandak, before subsequently being cancelled.
The accused also allegedly uploaded false balance sheets on the website of the Registrar of Companies (ROC), according to the complaint.
Alleged Transactions Without Board Approval
The complaint alleges that several transactions were carried out without the approval of the society’s board of directors.
These allegedly included purchasing properties for the society without board approval, sanctioning loans without obtaining collateral, waiving interest amounts without approval, and failing to deposit money received from the sale of mortgaged properties into the society’s accounts.
The complaint also alleges that maintenance expenses were incurred without permission and that additional amounts were deposited into borrowers’ accounts without their consent before being allegedly transferred illegally to other bank accounts.
Other alleged irregularities included manipulation of various accounts, according to the complaint.
The society has alleged that these transactions resulted in a financial loss of ₹34.77 crore, based on the findings of its statutory auditor.
Police said a complaint had earlier been submitted by the society and that a case was registered after the allegations and relevant records were examined.
Police Sub-Inspector Suhas Patil of the Economic Offences Wing is conducting the investigation.
