Former Maharashtra State Cooperative Council Chairman and BJP leader Shekhar Charegaonkar has been arrested in connection with the alleged Rs112 crore financial scam involving Yashwant Co-operative Bank in Phaltan.
Charegaonkar was taken into custody from his residence as part of an ongoing investigation into suspected large-scale financial irregularities at the cooperative bank. The case relates to the alleged misappropriation of approximately Rs112 crore.
Following his arrest, he was produced before the Karad court, which remanded him to police custody until March 2 to facilitate further investigation.
Authorities are closely examining financial transactions and the roles of individuals associated with the bank’s management. Investigators are expected to intensify the probe in the coming days to establish accountability and uncover the full scope of the alleged fraud.
Further developments are awaited as the investigation progresses.
