ED Seizes Rs 85 Crore Worth Property of Mangaldas Bandal in Shivajirao Bhosale Cooperative Bank Scam

By Tejas

Pune, October 17, 2024: In a major development in the Shivajirao Bhosale Cooperative Bank scam case, the Enforcement Directorate (ED) has seized assets worth Rs 85 crore belonging to Mangaldas Bandal, former chairman of the Pune Zilla Parishad’s construction committee. The properties, located in Pune, Solapur, and Ahmednagar, were seized as part of an investigation into fraudulent loans obtained by Bandal while serving in the bank.

In addition to Bandal, the ED has also taken action against Hanumant Khemdare and Satish Yadav, who are connected to the case. Earlier, a similar case was registered against Anil Bhosale in the same case.

Notably, the ED has earlier arrested Mangaldas Bandal on August 21, this year, in a money laundering case. At that time, the ED conducted raids on his residences at Muhammadwadi, Shikrapur, and Burunjwadi (Shirur) in Pune and seized an amount of Rs 5.60 crore and other documents from his residence.

Prior to that, Bandal was also apprehended by Pune police on May 26, 2021, for his involvement in the embezzlement of funds from the Shivajirao Bhosale Cooperative Bank. At that time, he spent 20 months in jail before being released on bail ahead of the 2024 Lok Sabha elections.

Bandal’s criminal activities extend beyond financial fraud, as Pune police had also invoked the Maharashtra Control of Organised Crime Act (MCOCA) against him for allegedly threatening a well-known jeweller.

Despite his legal troubles, Bandal continues to maintain a political presence. In the 2024 Lok Sabha elections, he was initially given a ticket by Vanchit Bahujan Aghadi for the Shirur constituency, but it was later withdrawn in favour of Dr. Anwar Sheikh following Bandal’s meeting with Deputy Chief Minister Devendra Fadnavis in Indapur. There are now political speculations suggesting that Bandal’s wife, Rekha Bandal, may contest from the Shirur-Haveli assembly constituency in the upcoming assembly elections.