Mumbai Crime: Vile Parle Police Book 4 Former Bank Officials In ₹4.15 Crore Loan Fraud Case

The Vile Parle police have filed charges against four former employees of Maratha Co-operative Bank, including the CEO, for allegedly stealing Rs 4.15 crore in a loan fraud case, according to a report on August 18, 2026. The accused are Ramesh Shirgaonkar, Dashrath Naik, Vaishali Mayekar, and Gopal Parab, who were involved in the alleged scheme between the years 2003 and 2006. The fraud came to light after the bank's merger with Cosmos Bank.

Assistant manager Surba Sawant, 64, was the one who noticed discrepancies in 2016, as the borrowers did not live at the addresses they had registered and some claimed they had never taken any loans. The investigation revealed that loans were sanctioned to 210 individuals, with Rs 2.47 crore going to employees of Indian Paramedical Company and Rs 1.68 crore to employees of People Paramedical Company.

However, these individuals had never worked for these companies. Fake identity cards, salary slips, and letters with forged stamps were also discovered.

The money involved in the scheme was dispersed following the disbursement. After receiving the funds, all borrowers opened accounts on the same day, with Atul Shirodkar signing the forms as a bank member. Subsequently, a portion was withdrawn, 5% moved into fixed deposits, and the remaining balance was issued through banker's pay orders bearing only Parab's signature. All of this was handed to Shirodkar.