Overview
- The State Bank of India’s Jawhar branch detected inconsistencies in a November 7 request for a demand draft and blocked a transfer sought in the name of O V/Ovi Construction.
- Police arrested Nilesh alias Pinka Ramesh Padwale, president of Vikramgad Nagar Panchayat, and Yajnesh/Yagnesh Ambhire in Thane on cheating and forgery charges.
- Bank staff flagged red flags including the use of “million” and “billion” on the cheque and a third party presenting documents for a high-value transaction.
- The PWD executive engineer confirmed the signatures on the submitted letter and cheque were forged, and the branch manager froze the attempted transaction.
- Investigators say the targeted sum comprised contractors’ Earnest Money and security deposits, and they are probing whether more people, including insiders, were involved.