Kolhapur: Founder of a co-operative bank in Kurundwad of Kolhapur districta has committed a found Rs 22 crore fraud.

S K Patil Bank is a co-operative bank in Kurundwad. The bank's founder S K Patil and his son Sanjay Patil took loan of 22 crore on the names of 32 co-operative societies. Some of the societies and their directors are unknown.

Actually, most of the societies and their directors are only on paper. Recently the S K Patil Bank liquidated and the liquidator B S Katare found that the 32 societies have taken loans of Rs 22 crore from the bank.

Then the liquidator issued notice to the directors of the societies about loan. The directors shocked because they had never taken any loan from the S K Patil Bank.

Now all the societies directors, who received the notice from the liquidator, are demanding inquiry against S K Patil Bank and his founder immediately.
Source : PTI