On the 25th of March, The recent arrest of Bablu Sonkar, a close associate of Ex-Chairman Amar Mulchandani, and two contractual staff working in the Enforcement Directorate (ED) Office caused quite a stir in the banking sector. The ED made these arrests under the provisions of PMLA 2002, as part of its ongoing investigation into the fraud in Seva Vikas Cooperative Bank.
Bablu Sonkar, who arrests along with the two contractual staff, is believed to be a key player in the fraud at Seva Vikas Cooperative Bank. He was a close associate of Ex-Chairman Amar Mulchandani, who has also been under investigation for his role in the fraud. The ED believes that Sonkar and Mulchandani worked together to siphon off funds from the bank, which eventually led to its collapse.
The two contractual staff members who were arrested are believed to have been involved in the cover-up of the fraud. They were allegedly tasked with falsifying documents and manipulating records to hide the fraudulent activities of Sonkar and Mulchandani.
The arrest of these individuals is a significant development in the ED’s investigation into the fraud at Seva Vikas Cooperative Bank. It shows that the agency is making progress in its efforts to bring those responsible for the bank’s collapse to justice. The ED has been conducting a thorough investigation into the matter, and these arrests are a clear indication that the agency is leaving no stone unturned in its pursuit of justice.
The arrest of Bablu Sonkar, in particular, is a significant development. He was believed to be one of the key players in the fraud, and his arrest could provide valuable information to the ED, which could help them in their investigation. It is also likely that Sonkar’s arrest could lead to the arrest of other individuals involved in the fraud, which could further strengthen the ED’s case.