Palghar, Nov 29: In a shocking revelation amidst the ongoing election campaign, a massive attempt to siphon off ₹111.63 crore belonging to Public Works Department (PWD) contractors was unearthed in Jawahar, Palghar district. The vigilance of an official at the State Bank of India (SBI), Jawahar branch, prevented the major scam just in time.
Two Arrested Following Exposure Of Plot
Following the exposure of the plot, Nilesh Ramesh Padwale, alias Pinka Padwale, President (Nagaradhyaksh) of the Vikramgad Nagar Panchayat, and Yagnesh Ambhire were arrested from Thane.
SBI Jawahar branch staff detected forged documents in a ₹111.63 crore transaction attempt, preventing a major scam | File Photo
Forged Documents Submitted For Fraudulent Demand Draft
According to received information, on November 7, 2025, a request for a Demand Draft (DD) favouring "Ovi Construction Company" was submitted to the SBI Jawahar branch. A letter and a cheque bearing forged signatures of Executive Engineer Nitin Bhoye and Accountant Rakesh Ranjan were presented for this purpose.
Red Flags Detected By Bank Officials
Bank officials became suspicious due to several red flags: the letter used the word 'billion' instead of 'crore,' and the writing style differed significantly from standard government documents. The suspicion intensified as a third party approached the bank for such a massive transaction instead of PWD officials themselves.
Bank Manager Verifies Documents And Exposes Fraud
Acting swiftly, the Bank Manager personally visited Executive Engineer Nitin Bhoye for verification. Bhoye clarified that while the letterhead belonged to the department, the signatures were not theirs. This clarification exposed the entire embezzlement plot, and the bank immediately froze the transaction, securing crores of rupees meant for PWD contractors' security deposits.
Accused To Be Produced In Court
The main accused, Pinka Padwale, has been arrested by the police and is scheduled to be produced in court today. A case has been registered at the Jawahar Police Station under sections 336, 338, 318(1), 318(4), and 3(5) of the Bharatiya Nyaya Sanhita (BNS).
Investigation Underway
Superintendent of Police Yatish Deshmukh stated that a thorough investigation is underway, and action will be taken against any other individuals found involved in the conspiracy.
Plot To Divert Funds To Linked Company
The plot intended to embezzle a staggering ₹111.65 crore from the PWD deposits in Jawahar using fake demand drafts. This amount, accumulated as Earnest Money Deposits (EMD) and Security Deposits from contractors for development works, was allegedly meant to be diverted to a company owned by a close associate of a political leader.
Contractors Relieved As Funds Secured
The sum included security deposits accumulated over many years, along with interest. Contractors often face financial difficulties due to delayed bill payments; the safeguarding of their deposited funds has provided them with significant relief.
Suspicion of insider involvement
It is alleged that Ovi Construction Company, believed to be linked to a close relative of a political leader, was behind this embezzlement attempt—a suspicion that appears to be substantiated. Speculation is rife that an investigation into the roots of this case might reveal the involvement of PWD officers or employees. The police are actively investigating potential insider complicity.
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Former MLA Raises Questions About Mastermind
Vikramgad ex-MLA Sunil Bhusara stated, "Pinka Padwale is just a pawn; who is the real mastermind? It is necessary to find the answers to questions such as who prepared this demand draft, who submitted it, and why such a large sum was decided to be given only to Ovi Company. Furthermore, it is also crucial to find out who is the main conspirator behind this entire incident."
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