Gujarat Police Arrest Former Bank CEO in Rs 64-Crore Loan Fraud
September 27, 2025
Ahmedabad: Vinodkumar Patel, former CEO of Mehsana Urban Co-operative Bank, was arrested by the CID Crime Branch for his alleged role in a Rs 64.04 crore loan fraud spanning seven years.
Patel is accused of colluding with real estate developer Bijal Mehta and others to approve loans using forged documents, violating RBI norms. Several loans remained unpaid, with funds diverted for personal use, leaving multiple projects incomplete. Despite some loans turning into non-performing assets, Vinodkumar Patel allegedly used his authority as CEO to sanction fresh loans exceeding Rs 5 crore to Mehta’s firms.
A forensic audit revealed defaults of Rs 4.45 crore by Om Infratech, Rs 10.64 crore by Bageshree Township-9, and Rs 12.86 crore by Bageshree Infratech. Patel’s involvement surfaced during the statement of a previously arrested branch manager.
The CID registered the case under sections of cheating, forgery, breach of trust, and criminal conspiracy, and investigations are ongoing. DeshGujarat
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