Navi Mumbai, August 4, 2026: The Navi Mumbai Police have registered a case against the chairman, vice-chairman, chief manager and several office-bearers of the Baburao Ramishte Mathadi Kamgar Cooperative Credit Society for allegedly embezzling Rs 6.67 crore by sanctioning fraudulent loans in the names of Mathadi workers using forged documents and fake signatures.
The case was registered by the Economic Offences Wing (EOW) at the APMC Police Station under various provisions of the Bharatiya Nyaya Sanhita (BNS), including charges of cheating, forgery, criminal conspiracy and the use of forged documents.
Fraudulent Loans Alleged
According to the police, the accused allegedly created fake memberships in the names of Mathadi workers and processed bogus loan applications without their knowledge or consent. The loans were approved using forged signatures and fabricated documents, resulting in the alleged siphoning of Rs 6.67 crore from the cooperative credit society.
The Baburao Ramishte Mathadi Kamgar Cooperative Credit Society operates from the sixth floor of the Central Facility Building in the APMC market and primarily serves the financial needs of Mathadi workers.
The fraud surfaced after several workers discovered unauthorised loans in their names. Following a written complaint by 39-year-old Mathadi worker Akash Jagtap, the Economic Offences Wing's Unit III initiated an inquiry, which led to the registration of an FIR.
Officials Named In FIR
Among those named in the FIR are Pradeep Jagannath Ramishte, the then branch manager; Sachin Bapu Devkate, divisional secretary of the Akhil Bharatiya Mathadi Union; clerk Umesh Hindrao Kesare; Bharat Appa Mote; Kiran Appa Mote; Shailesh Mohanrao Dhumal (Mukadam); along with the credit society's chief manager, chairman, vice-chairman and other office-bearers.
"The preliminary investigation has revealed that forged documents and fabricated signatures were allegedly used to obtain loans in the names of Mathadi workers without their consent. A case has been registered, and all financial records and related documents are being examined. Further investigation is underway, and appropriate legal action will be taken based on the evidence," a senior officer from the Navi Mumbai Police's Economic Offences Wing said.
Also Watch:
Investigation Continues
The alleged misappropriation of funds from a cooperative society established for the welfare of Mathadi workers has triggered outrage among workers, many of whom have demanded strict action against those responsible.
Police said the investigation is continuing to ascertain the exact role of each accused and whether more individuals were involved in the alleged conspiracy.
To get details on exclusive and budget-friendly property deals in Mumbai & surrounding regions, do visit: https://budgetproperties.in/
