Gandhinagar: The CID Crime unit of Gandhinagar zone arrested Vinodkumar Patel, former CEO of Mehsana Urban Co-operative Bank Ltd, on Friday for his alleged role in a Rs64.04 crore loan fraud spanning seven years.
Patel is accused of conspiring with real estate developer Bijal Mehta and others to approve loans based on forged documents, violating Reserve Bank of India (RBI) norms. The complaint was lodged by the bank’s legal manager, Anil Patel, revealing the scam occurred between 2016 and 2023.
Bijal Mehta and his wife Aman, through their firms Bageshree Infratech and Om Infratech, secured multiple loans using fake valuation reports and construction certificates. The loans remained unpaid, funds were diverted for personal gains, and several projects remain incomplete.
Despite many loans turning into non-performing assets, Vinodkumar allegedly abused his position to sanction fresh loans exceeding Rs5 crore to Mehta’s firms. His involvement surfaced during the interrogation of P T Patel, Gandhidham branch manager, who was arrested earlier.
A forensic audit confirmed significant fund misappropriation — Om Infratech defaulted on Rs4.45 crore, Bageshree Township-9 on Rs10.64 crore, and Bageshree Infratech on Rs12.86 crore.
CID officials are interrogating Vinodkumar and continuing their probe to trace the money trail and identify other beneficiaries. The case was registered under sections related to cheating, forgery, breach of trust, and criminal conspiracy earlier this year.
