On June 20 last year, the Economic Offences Wing of Pune Police had arrested three BoM officials — the then Chairman and MD Ravindra Marathe, the then Executive Director Rajendra Gupta and former CMD Sushil Muhnot.
Ravindra Prabhakar Marathe Marathe, his predecessor Sushil Muhnot in Bank of Maharashtra were arrested by the Economic Offences Wing of Pune City Police in connection with the investigation into cases of cheating and fraud by the city-based DSK Group.
Bank of Maharashtra CEO Ravindra Prabhakar Marathe, his predecessor Sushil Muhnot, and two other senior officials of the Bank of Maharashtra were arrested by the Economic Offences Wing of the Pune Police on June 20.
The arrests of senior Bank of Maharashtra officials for alleged corruption in loan disbursals has sent shock waves through the industry. What is the Pune case, and what are the ramifications of the arrests?