Probe Mumbai Bank Directors’ Rags to Riches Story

From Chawl to High Rise… via Mumbai Bank Loot

Unmesh Gujarati
Sprouts Exclusive

The individual wealth of the 21 directors of Mumbai Bank is learnt to be worth crores of rupees. ‘Sprouts’ SIT has made inquiries and found that these directors have increased their personal wealth several times from that which they had when they were first elected to the bank.

With few exceptions, all other directors have allegedly committed corruption and made crores having no other sources of income. Pravin Darekar, who is considered the ‘richest laborer’ in the world, is also involved in this corruption. Prasad Lad, also a director of this bank has made Crores similarly.

Directors Pravin Darekar, and Prasad Lad have recently been given a clean chit by the Economic Offences Wing (EOW). It is a well-known fact that this clean chit was given at the behest of Deputy Chief Minister Devendra Fadnavis who heads the Home Ministry under which the EOW functions. Now only a Mumbai High Court-monitored Inquiry by an SIT or CBI can reveal the huge corruption by the Directors who have looted the bank and made Crores of ill-gotten wealth at the cost of depositors and shareholders.

The appointment of Pravin Darekar’s brother Prakash Darekar as a director is illegal. This illegal way of appointment will soon be challenged in the Mumbai High Court. Akhilesh Mayashankar Chaubey, the lawyer of this bank, is a taxchor (tax evader). He has amassed personal assets worth crores of rupees by greasing Darekar’s palms. The news of which has already been published by Sprouts earlier.

The chawl to Tower story

With the exception of a few directors, most of the directors earlier lived in rented houses in chawls. But today, they live in 3  BHK flats in high-rise towers all at the cost of shareholder members of the bank. An independent and fair investigation as demanded above by Sprouts will uncover this chawl to a high-rise story!

Fraudulent bank, world’s ‘richest laborer’ and tax evader shamelessly issue notice to ‘Sprouts’ again

The news expose of ‘Sprouts’ has made Pravin Darekar and his cronies so nervous that Darekar, the Bank, and taxchor (tax evader) lawyer Chaubey have again issued notices to the editor of Sprouts demanding an apology. This is a blatant attempt by these lumpen elements to browbeat Sprouts and its Editor into submission which is a daydream. No matter whatever the pressure they apply, these corrupt directors and their lawyers should do well to remember that the editor of ‘Sprouts’ is not a Girish Kuber of ‘Loksatta’ to apologize, and withdraw the editorial.

In the meanwhile, Aam Aadmi Party spokesperson – Dhananjay Shinde, and social and anti-corruption activists Maruti Bhapkar and Manav Kamble from Pune have told Sprouts that they will be demanding an ED inquiry into the Mumbai bank scam by its Directors. Shinde and Bhapkar further said that they will also be filing a petition with the Governor for sanction to prosecute MLC Pravin Darekar ( being a public servant ) by the Lok Ayukta under the recently passed Law by Maharashtra State.

Sprouts is proud and bold to tell these spineless bank thieves that it is a bold, independent, and uncompromising English newspaper of repute. That it stands tall because of its honest and fearless principles coupled with the unwavering support and strength of its readers.