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Panvel: Court orders auction of ex-MLA’s assets in Rs 512 crore bank fraud

The assets include a sprawling sports academy and a land parcel in Panvel, both of which were previously attached by investigative agencies. Patil, a three-time MLA from Panvel and once from Uran under the Peasants and Workers Party of India, is the prime accused in the case

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The Enforcement Directorate is also probing related money laundering charges and holds overlapping attachments on some of the properties. Representational Pic

The Enforcement Directorate is also probing related money laundering charges and holds overlapping attachments on some of the properties. Representational Pic

A special anti-money laundering court has directed the auction of properties linked to former MLA Vivekanand Shankar Patil to help repay creditors of the Panvel-based Karnala Nagari Sahakari Bank, which is embroiled in a fraud case exceeding Rs 512 crore. 

The assets include a sprawling sports academy and a land parcel in Panvel, both of which were previously attached by investigative agencies. Patil, a three-time MLA from Panvel and once from Uran under the Peasants and Workers Party of India, is the prime accused in the case, as per the news agency PTI. 

A total of 87 properties—some of them ancestral—have been attached under the Maharashtra Protection of Interest of Depositors (MPID) Act by Navi Mumbai police’s Economic Offences Wing. The Enforcement Directorate (ED) is also probing related money laundering charges and holds overlapping attachments on some of these properties, according to the news agency PTI. 

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