Bank of Maharashtra CEO Marathe arrested in Rs.2,000-cr fraud case

The Economic Offences Wing (EOW) of Pune police has arrested some top officials of Bank of Maharashtra, including its CEO and Managing Director Ravindra Marathe, in connection with the over 2,000-crore rupee fraud case against DSK group accused of cheating thousands of its depositors. 

The bank's Executive Director Rajendra Gupta, Zonal Manager Nityanand Deshpande



and former CMD Sushil Muhnot were also among those arrested on charges of conspiring with the key accused to illegally sanction a loan of 100 crores for a real estate project. 

While seeking their custody, the EOW told a local court that the accused officials had violated norms and RBI guidelines while sanctioning the loan.