Co-operatives commissioner and registrar has ordered an audit of the Muslim Co-operative Bank in Pune , Maharashtra run by educationist PA Inamdar, who is also its chairman, reports HT.
The audit has been ordered after complaints alleging that there was a fraud worth Rs 100 to Rs 110 crores in the bank in the last eight to 10 years. However, the bank’s chairman has denied allegations.
The audit has been ordered under the Maharashtra Co-operative Act 1960 section 81 (3).
The co-operatives commissioner and registrar claimed that audit was still underway and the scam would be uncovered soon.