Former Shiv Sena MP Anandrao Adsul appears before ED

Former MP and Shiv Sena leader Anandrao Adsul was questioned by the Enforcement Directorate (ED) for about four hours on Tuesday. He was questioned in connection with the alleged scam of Citi Co-operative Bank. He left the office around 7 p.m. He will be called back for questioning as needed, officials said.

Former Shiv Sena MP and Chairman of the City Cooperative Bank (CCB) Anandrao Adsul appeared before the Enforcement Directorate on Tuesday in connection with a probe in the CCB case.

City Cooperative Bank was placed under restrictions by the Reserve Bank of India (RBI) in 2018 under section 35 A of the Banking Regulations Act. There were several allegations regarding misappropriation of funds and loans being granted without security to several borrowers which turned into NPAs and causing immense losses to the bank.

Following a complaint by Adsul, the Economic Offences Wing (EOW) of Mumbai police also registered a case. The investigation by the EOW also pointed out irregularities in awarding loans to various entities and persons.

The ED is presently conducting inquiries into the loan case and Adsul was summoned regarding the same.