In a major crackdown on financial fraud, police in Vikramgad Nagar Panchayat have arrested its president, Nilesh Padwale, also known as Pinka Ramesh Padwale, along with associate Yajnesh Ambire, for allegedly attempting to siphon off more than Rs111 crore using forged documents.
The fraud surfaced on November 7 when a demand draft (DD) request for Rs111.63 crore, submitted under the name of Padwale’s company, was presented at a State Bank of India (SBI) branch in Jawhar, Maharashtra. The request falsely claimed that the amount was to be withdrawn from Public Works Department (PWD), Maharashtra, which maintains security deposits from contractors.
Alert SBI officials detected glaring inconsistencies in the documents, including the unusual use of the term “billion” instead of “crore”, irregular formatting, and questionable signatures. When the bank contacted PWD directly, they confirmed the signatures were forged and no approval had been issued for such a large withdrawal.
Following the bank’s alert, police began an investigation. On November 29, authorities arrested Padwale in neighbouring Thane district along with Ambire. A case has been registered under charges of cheating and forgery.
Officials described the attempt as a serious misuse of public funds, prompting criticism from citizens and political leaders. A local political representative has demanded a high-level inquiry and a review of safeguarding measures for departmental funds.
The swift action by SBI staff prevented what could have been one of the largest embezzlement attempts in the region. An internal PWD inquiry has also been initiated to determine whether others may be connected to the fraud. The arrests highlight the ongoing need for strict vigilance when dealing with public funds.
