Amar Mulchandani In Custody Of ED For Scam Case Of Crores
Pimpri, 29th January 2023: The Pimpri police have nabbed the three persons awho obstructed the ED investigation. Both, Amar Mulchandani’s brother and son, did not cooperate with ED officials when they came to question former Seva Vikas Bank chairman Amar Mulchandani on Friday. Evidence to the contrary was destroyed.
The Pimpri police detained Amar Mulchandani’s two brothers and one of the brother’s sons in the night on the charge of obstructing the investigation. Also, two more women are likely to be arrested. They were released after serving notice at night.
On Friday, the ED raided the house of Amar Mulchandani, former president of Seva Vikas Bank in Pimpri-Chinchwad. It was revealed that 124 loans were allotted to Mulchandani along with the directors based on forged documents, and this resulted in a scam of more than 400 crores. Pimpri-Chinchwad police had arrested five people, including Amar Mulchandani, in this case. A few months ago, Mulchandani came out on bail, and the ED raided his place on Friday. The money of thousands of depositors is stuck in this bank, which has been appointed administrator by the RBI. Amar Mulchandani is currently undergoing treatment at Sassoon Hospital in Pune, where he has been taken into custody by the ED.
