ED, Mumbai has attached assets worth of Rs. 85 Crore (approx.) in the form of immovable properties in Pune, Solapur & Ahmednagar belonging to Mangaldas Vittahlrao Bandal, Hanumant Shambhaji Khemdhare, Satish @ Yatish Jadav and their family members in the case of Shivajirao Bhosle Sahakari Bank Limited (SBSBL) under the provisions of PMLA, 2002.

The Directorate of Enforcement (ED), Mumbai Zonal Office has attached assets worth approximately Rs. 85 Crore in the form of immovable properties in Pune, Solapur, and Ahmednagar belonging to Mangaldas Vittahlrao Bandal, Hanumant Shambhaji Khemdhare, Satish @ Yatish Jadav, and their family members. The action was taken under the provisions of the Prevention of Money Laundering Act (PMLA), 2002, in connection with the Shivajirao Bhosle Sahakari Bank Limited (SBSBL) case. An FIR registered by the Shivajinagar Police Station, Pune, against Anil Shivajirao Bhosale and others initiated the ED investigation.

The Enforcement Case Records (ECR) revealed that Mangaldas Bandal leveraged his influence and association with Anil Bhosale, Chairman of SBSBL, to obtain loans in the names of associated concerns of local businessmen and farmers. Additionally, Hanumant Kemdhare, the then Loan Superintendent, played a crucial role in sanctioning fraudulent loans at SBSBL from 2007 to 2013 and misused his position to recommend ineligible loans.

ED has already attached property worth approximately Rs. 26 Crore in February 2023 and filed a Prosecution Complaint in April 2021 against Anil Shivajirao Bhosale, Chairman of SBSBL, and other bank officials before the Hon'ble Special Court (PMLA), Mumbai. The ongoing investigation aims to further unravel the financial irregularities and money laundering activities involved in the case.