Nashik Road crime branch arrested Sunil Babasaheb Shirsath, chairperson of Shri Sant Mauli Co-operative Credit Society Ltd’s Pathardi branch in Ahilyanagar district, in an alleged Rs 4 crore depositor fraud case, police said. Shirsath was traced to his in-laws’ residence at Nashik Road after the Ahilyanagar Economic Offences Wing alerted Nashik police.
The case was registered at Pathardi police station on September 9 under various sections of the Bharatiya Nyaya Sanhita and the Maharashtra Protection of Interest of Depositors Act. The accused named in the case include Shirsath, vice-chairperson Babasaheb Shirsath and board directors Ambadas Avhad, Anand Sanap, Sharad Markad, Chhaya Borude, Abasaheb Giri, Nanda Shirsath, Yuvraj Markad, Bharat Jadhav and Amol Lohiya.
According to the complaint, the accused allegedly attracted depositors between July 25 and September 8 by promising high interest rates on savings accounts and fixed deposits through advertisements and direct contact. They allegedly failed to return the deposited money and also withheld gold ornaments pledged against loans.
The complaint includes an alleged loss of Rs 5 lakh to one depositor and Rs 3.97 lakh to a witness. Police have described the broader matter as a Rs 4 crore fraud case. The allegations have not been established in court.
A senior officer said Shirsath was hiding at his father-in-law’s home near Adhav petrol pump in Nashik Road. After receiving specific information, Assistant Commissioner of Police Sandip Mitke directed a search operation led by Police Inspector Sandip Pawar and his team.
Police said Shirsath climbed onto an exterior duct of the building after spotting the officers and threatened to jump. While the fire brigade was being summoned, police personnel Avinash Devare, Ketan Sonawane and Kunal Ghorpade placed a ladder on one side of the structure. Pawar, along with Sushant Dighe, Samadhan Jadhav and Bharat Raut, then breached a gallery window, restrained Shirsath from behind and brought him to safety, the officer said.
Shirsath was taken into custody without injury and handed over to the Ahilyanagar Economic Offences Wing for further legal action. The investigation will determine the extent of the alleged depositor losses, the status of pledged gold and the role of the other accused named in the case.
