Navi Mumbai: In a major crackdown on alleged financial fraud, police in Vikramgad Nagar Panchayat have arrested its president, Nilesh Padwale (also known as Pinka Ramesh Padwale), along with an associate, for attempting to siphon off more than ₹111 crore through forged documents.
The fraud came to light on November 7 when a request submitted for a demand draft (DD) of ₹111.63 crore in the name of Padwale’s company was presented at a branch of State Bank of India (SBI) in Jawhar, Maharashtra. The DD request claimed the funds were to be withdrawn from the funds maintained by the Public Works Department, Maharashtra (PWD), which holds security deposits from contractors.
However, vigilant bank officials noticed glaring irregularities, most notably the use of the word “billion” instead of “crore” in the documents, as well as inconsistent formatting and suspicious signatories. When the SBI staff attempted to verify the request directly with PWD, they found that the signatures were forged and no authorization had been granted for such a large withdrawal.
Following this discovery, police launched an investigation. On November 29, Padwale was arrested from neighbouring Thane district along with another person identified as Yajnesh Ambire. A formal case under charges of cheating and forgery has been registered.
Authorities described the incident as a serious attempt to misuse public funds earmarked as security deposits from contractors. The move has prompted sharp criticism from the public and political representatives. A political leader has demanded a thorough, high-level inquiry to ensure accountability and to review existing safeguards on departmental funds.
The swift response of the bank staff prevented what could have become one of the largest embezzlement scandals in recent memory in the region. An internal investigation within the PWD has also been initiated and officials say they are examining whether other persons might have been involved. The arrests underline the importance of oversight and vigilance when handling public funds.
