₹154 Crore Bank Scam: Congress MLA Sunil Kedar Found Guilty 20 Years Later – Details Revealed

Twenty years ago, a scam involving ₹154 crores came to light, and now, Congress legislator and former minister Sunil Kedar has been declared guilty. This scam surfaced in 2002 at the Nagpur District Central Cooperative Bank, and the court has now delivered its verdict.

In a significant development, the Nagpur District Central Cooperative Bank scam has dealt a big blow to former minister and senior Congress legislator Sunil Kedar. The district and sessions court has found Kedar guilty, considering him the main accused in this scam. Along with the Congress legislator, five others have also been proven guilty in this bank scam. Meanwhile, the court has acquitted three accused due to lack of evidence. It’s worth noting that this entire scam was worth ₹152 crores and has been under trial in court for the past 20 years. In this case, Congress legislator Sunil Kedar has been declared guilty.

What’s the Full Story? In 2002, a scam involving more than ₹152 crores came to light at the Nagpur District Central Cooperative Bank. At that time, Sunil Kedar was the chairman of the bank and also the main accused in this case. The scam involved several companies from Mumbai, Kolkata, and Ahmedabad purchasing government bonds worth ₹125 crores from the bank. Subsequently, these companies neither paid for the government bonds nor returned the money to the bank. Kishor Bele, the then Deputy Director of the State Criminal Investigation Department (CID), was the investigating officer in this scam. After the investigation was completed, an accusation letter was filed in court on November 22, 2002. This case has been pending since then.

Senshukri Dealers Private Limited, Syndicate Management Services, and Giltez Management Services assisted these individuals in purchasing government bonds (shares) from the funds of the Nagpur District Central Cooperative Bank. However, the cash paid to the bank by these companies was never returned. All these private companies that purchased the bonds were declared bankrupt later.

Court Finds These Individuals Guilty –

1. Sunil Kedar (then bank chairman)
2. Ashok Choudhary (then bank manager)
3. Ketan Seth (main bond broker)
4. Subodh Gundare
5. Nandkishor Trivedi
6. Amol Varma

These Individuals Have Been Acquitted –

1. Shriprakash Poddar
2. Suresh Peshkar
3. Mahendra Agrawal