‘Took loan for Merc; submitted number plate of scooter’: How Sheetal Tejwani, husband were accused of defrauding Pimpri bank years ago

Tejwani had allegedly availed 10 loans amounting to Rs 60.7 crore from the bank and withdrew the money in cash from its Pimpri and Budhwar Peth branches. While Suryavanshi was arrested by the Enforcement Directorate in 2023 for allegedly defrauding the bank, Tejwani managed to secure anticipatory bail.

“We thought she would remain in jail for a long time because of the kind of fraud she and her husband committed. However, she managed to get bail, which shows how our system runs,” said Dhanraj Aswani, a Pimpri activist.

Aswani, who had filed an RTI application with the bank, said he was shocked to discover that Tejwani and Suryavanshi had availed crores in cash. At least Rs 20 crore was taken for purchasing five four-wheelers for personal use, he alleged.

According to Aswani, for purchasing a Mercedes worth Rs 5 crore, the couple submitted the number plate of a scooter. “They submitted fake documents. We also found out from the RTO that the number plate belonged to a scooter and was not that of a Mercedes,” Aswani claimed.

Similarly, the couple showed that they had bought a house worth Rs 20 crore in the Koregaon Park area. “They took out a loan for a lawn in the Koregaon Park area. When we reached the spot, we found only a wall existed, no lawn,” he alleged.

Many of Aswani’s claims were mentioned in the government’s audit report on the bank and the Pimpri police’s investigation.

Aswani said the couple were not alone in defrauding the bank. “The then chairman and 18 directors have been accused of defrauding the bank. Only two have been arrested so far. Where are the others? Why are they not being arrested?” he alleged, claiming that officials from various government agencies, including the police, supported the accused in the case.

“The couple withdrew cash running into crores and shared the booty with other bank officials. This was done blatantly and brazenly,” he alleged. Had Tejwani stayed in jail, the Koregaon land scam would not have occurred, he added.

How the bank fraud came to light

The Seva Vikas Cooperative Bank loan fraud was exposed after whistleblowers Dhanraj Aswani and S Aswani lodged a complaint with the chief minister and cooperative minister in 2016, following which an audit was ordered in 2017. The audit report released in 2019 exposed irregularities in loan disbursements amounting to ₹429 crore.

The bank directors, the then chairman, and other officials came under the scanner. In 2021, the Reserve Bank of India (RBI) appointed an administrator, expressing concern about the bank’s functioning and deteriorating net worth and capital. Subsequently, in October 2022, the RBI cancelled the bank’s licence. The RBI directed the Commissioner for Cooperation Registrar of Cooperative Societies, Maharashtra, to wind up the bank and appoint a liquidator.

“All 28 bank branches closed down. The bank had 1 lakh depositors. The RBI had ordered that the depositors be refunded up to a ceiling of Rs 5 lakh under the Deposit Insurance and Credit Guarantee Corporation,” former Pimpri-Chinchwad deputy mayor Dabbu Aswani said.

What the ED said about Sagar Suryavanshi

The Enforcement Directorate (ED) arrested Sagar Suryavanshi in June 2023 under the Prevention of Money Laundering Act in connection with the Seva Vikas Cooperative Bank fraud case. “Sagar Suryawanshi and his relatives (wife) were found to have defrauded the bank to the tune of Rs 60.67 crore in 10 NPA loan accounts. He obtained loans in connivance with the bank chairman and without having sufficient creditworthiness and repaying capacity,” the ED had said then in its press release. The ED said the amount was withdrawn in cash for “personal enrichment”.

The latest row

Tejwani and Digvijay Patil, the director of Amadea Enterprises LLP, have been booked over alleged irregularities in a controversial Koregaon Park land deal allegedly linked to Parth Pawar. Parth and Digvijay are directors of the firm involved, while Tejwani had the power of attorney over the land.

Tejwani and Suryavanshi reportedly own a house in the Koregaon Park area. “Tejwani takes authority to sell an individual’s land. She sells the land or property on their behalf. She deals in disputed properties,” said Pune advocate Raju Madhavan.

Suryavanshi’s father, Raja Suryavanshi, stays in Pimpri. “He is a popular lawyer. Two-three decades ago, he would have prepared land agreements for more than 1 lakh individuals in the Kalewadi and Thergaon areas when they were developing. I think Sagar learnt the ropes of property deals from his father,” said advocate Sushil Mancharkar.

When asked about the Koregaon Park land deal, Raja Suryavanshi replied: “No comment”.