ED attaches immovable properties worth over Rs 150 cr linked with 4-time MLA of Panvel in bank fraud case

Raigad (Maharashtra) [India], October 12 (ANI): The Enforcement Directorate (ED) has provisionally attached immovable properties worth over Rs 150 crore belonging to Vivekanand Shankar Patil, a four-time MLA from Panvel and his relatives in connection with a bank fraud case, officials said on Thursday.
Taking to the social media platform, X, ED said, "ED has provisionally attached immovable properties belonging to Vivekanand Shankar Patil, a four-time MLA from Shetkari Kamgar Paksha Party and Ex-Chairman of Karnala Nagari Sahakari Bank Ltd, Panvel, his relatives and Karnala Mahila Readymade Garments Cooperative Society Limited, having book value of Rs. 152 Crore (approx.) in form of pool of vast land, bungalow, residential complex etc. on October 12, 2023 in connection with a Bank Fraud case."
"Total attachment in this case stands at nearly Rs 386 crore, ED said.
The ED initiated the investigation on the basis of an FIR registered by the Economic Offence Wing (EOW) of Mumbai Police in 2019.
The fraud came to light after an audit was done at the instance of the Reserve Bank in 2019-20, when it was revealed that Patil was siphoning off funds from the bank through 63 fictitious loan accounts to the loan accounts of Karnala Charitable Trust and Karnala Sports Academy, which were founded and controlled by Vivekanand Patil. (ANI)