Mumbai Bank irregular distribution of loans: All political leaders are in the forefront

Unmesh Gujarathi
Sprouts News Analysis

The Mumbai Bank has advanced a loan of Rs 50 crore to the BJP MLA Prasad Lad for which he has pledged the premises at Kohinoor Square, which is less in area, but its valuation is inflated. In other words the loan has been granted in violation of bank’s regulations.

Like the Legislative Council Opposition leader (BJP) and former Chairman of the Mumbai Bank Pravin Darekar, who claimed as a labourer, to become the director, Lad too has claimed himself as a bogus salaried person/wage earner, despite him being a crorepati. Lad is a director of the Krystal Group. But he has claimed to be working as an employee in the family run group. He got elected on the Mumbai Bank’s board claiming as a member from the employees’ credit cooperative society.

Basically, Lad is the owner of the company and also an MLC. He is neither a worker nor an employee of the Krystal Group. As per the Co-operative Act, a membership of the credit society is allowed only to a permanent employee of any company. Despite this he claimed himself as a worker of his own company and contested the election of the Mumbai Bank twice. As such the entire matter should be inquired threadbare, AAP (Maharashtra) Secretary Dhananjay Shinde has demanded.

BJP leader Prasad Lad was involved in illegal money transactions worth crores of rupees in 2009 in the BMC and the offence was registered against him in this regard. He was also summoned by the Economic Offences Wing of the Mumbai Police last year. Now afraid of strict action by the Mumbai Police Commissioner Sanjay Pandey, Lad has approached the Bombay High Court to avoid impending arrest in the case.

Mumbai Bank has grown with the efforts of the working class. But Pravin Darekar and the people in his good books are on the board of directors and have been controlling the bank for the last many years, Shinde alleged.

Besides Lad, the Mumbai Bank has advanced the loans worth crores of rupees to the companies run by Radhakrishna Vikhe Patil, Unmesh Patil, Sudhir Mungatiwar, Bacchu Kadu, Raosaheb Danve and Sadabhau Khot and their relatives and associates in violation of rules. As such the matter should be inquired immediately.

“Darekar and his coterie have looted crores from the Mumbai Bank. But ironically those swindling the bank include the leaders of all the political parties. That is the reason despite registering an offence by police, no action is being taken against him, by the MVA Government”
Dhananjay Shinde, General Secretary – AAP Maharashtra