Former Maharashtra State Cooperative Council Chairman and BJP leader Shekhar Charegaonkar has been arrested in connection with the alleged Rs 112 crore scam involving the Yashwant Co-operative Bank, Phaltan on Wednesday.
Charegaonkar was taken into custody from his residence as part of an ongoing investigation into the alleged financial irregularities at the Phaltan-based cooperative bank. The case pertains to the suspected misappropriation of approximately Rs 112 crore.
Following his arrest, he was produced before the Karad court. The court has remanded him to police custody until March 2 for further investigation. Authorities are continuing to examine the details of the alleged fraud and the roles of individuals connected to the bank’s management.
Investigators are expected to intensify the probe in the coming days to trace the financial transactions and determine accountability in the case. Further developments are awaited as the investigation progresses.