Depositors cheated for Rs 16 lakh

Case registered against bank chairman, director

Aurangabad: A case has been registered in Satara police station against the chairman and director of Atharvaraj Multistate Agro Purpose Co-operative Society Ltd for duping ten depositors for Rs 16.49 lakh. Police inspector Prashant Potdar said that the number of complainants would increase.

According to police, chairman Nitin Bhausaheb Garad (Kumbhari, Sangli), directors Parmanand Rameshwar Pawar (Buldhana), Ganesh Khatkale (Solapur), Navnath Pandurang Khatke and Pramod Baradkar (Phaltan, Satara). According to the complaint filed by Hanumant Dhumal, he got information about this society through his friend Sunil Kalwaghe. Pawar assured him to become a member of the society. It promised a return of 12.6 per cent on the principal amount deposited by the society at the time of maturity. Accordingly, in 2014, Dhumal invested Rs 500 per month for seven years. However, the society suddenly closed its office in 2016. The investors contacted the head office of Sangli, but in vain. PSI Vinayak Shelke is further investigating the case.