Mangaldas Bandal Under ED Scanner: Former NCP Leader's Properties Worth 85 Crore Attached

The Enforcement Directorate (ED) in Mumbai has seized properties valued at approximately Rs 85 crore across Pune, Solapur, and Ahmednagar, linked to wrestler-turned-politician Mangaldas Vittahlrao Bandal, Hanumant Sambhaji Kemdhare, Satish alias Yatish Jadhav, and their families as part of a money laundering investigation involving Shivajirao Bhosale Sahakari Bank Limited (SBSBL).

According to a Indian Express report, the agency's inquiry revealed that Bandal secured loans from SBSBL by exploiting his connections with local business figures and farmers, notably through his relationship with Anil Bhosale, the bank's chairman. He allegedly used farmers' lands as collateral while significantly overstating their market values, as highlighted in a forensic audit.

The ED's investigation began after an FIR was filed at Shivaji Nagar Police Station in Pune against Anil Shivajirao Bhosale, Suryaji Pandurang Jadhav, and others. This case was subsequently handed over to the Economic Offences Wing (EOW) of the Pune police. Hanumant Kemdhare, who served as the Loan Superintendent at SBSBL from 2007 to 2013, is accused of facilitating fraudulent loans and misusing his authority to endorse ineligible applications.

Earlier this year, in February, the ED had already frozen assets worth Rs 26 crore belonging to Anil Shivajirao Bhosale and other associates in connection with the case.