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Maharashtra minister among 42 booked in Akola co-op bank scam

The Akola police has booked 42 persons including Maharashtra Minister of State for Transport Subhash Thakre for their involvement in the Rs 42-crore (Rs 420 million) Akola District Central Co-operative Bank scam.

All the accused are former directors of the ADCCB and offences under relevant sections were registered on Tuesday against them.

The others booked include, sitting MLA Vasantrao Khotre and Vijay Jadhav along with former legislators Vasantrao Dhotre, Motiram Lahane, Kisan Rau and Subhash Jhanak.

Former bank chairman W R Korpe's son Santosh is the prime accused in the scam. The offences were registered on the basis of a complaint lodged by Krishna Andhare and Jagdish Murumkar on July 6 with Civil Lines police station.

The police complaint said ADCCB had sanctioned Rs 5 crore (Rs 50 million) to Akola District Sugar Co-operative factory in October 1995 and without recovering the dues against the sanctioned Rs 1 crore (Rs 10 million) in February 1996 without following proper procedure and violating laid down norms.

Offences under various sections of the Cooperative Act have been registered against them but no arrests have been made so far, police said.

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