Mahakali's Massive Bank Scam: Investors Seek Justice for 2000 Crore Fraud

In a stunning development, the Shri Mahakali Co-op Credit Society Limited and the Mahakali Group of Companies have been embroiled in a shocking bank scam of an astounding 2000 crores. The initial office of Mahakali Co-op Credit Society Limited and the Mahakali Group of Companies was located near IIT Market on Mukteshwar Ashram Road, and they later opened a second office at Boomerang Building in Yadav Nagar. Suresh Shyamlal Gupta, accompanied by the Congress District President, shed light on this grave issue during their visit to the police station today. They, along with over 300 individuals who fell victim to this fraudulent scheme, gathered together in search of justice for their hard-earned money.

First office of Shri Mahakali Co-op Credit Society Limited

During the meeting with the authorities, including Mr. Datta Nalawade, the Deputy Commissioner of Police (DCP) of Zone 10, Gupta and the district president disclosed the extensive fraud committed by the aforementioned entities. Acting swiftly, the DCP immediately contacted the Economic Offense Wing (EOW) and sought assistance from the Senior Inspector of Powai Police and the DCP in Thane (the first FIR was registered at Thane Police Station), urging them to take prompt action.

The investors demanded accountability and implored the DCP to file a First Information Report (FIR) against the key players involved in the scam. Specifically, they mentioned Director Ritesh Panchal and members Vishal Shah, Sandeep Manjrekar, Sunil Mule, Vaibhav Raskar, Haridas Virghat, Sandeep Gaikwad, Vishnu Malvi, Ramesh Gaikwad, Kachru Kusher, Sangeeta Manjrekar, Bina Kakade, Vitthal Panchal, and Vishal Shah. The investors also called for the seizure of passports belonging to committee members Harshik Panchal and Nilesh Navale, as there were concerns they might attempt to flee the country. Additionally, they urged that these individuals be required to present themselves at the police station daily and be subjected to strict monitoring, as investors feared they might abscond with the defrauded funds. Emphasizing the importance of impartiality, the investors requested a fair investigation into the involvement of various officers implicated in the case.

Meanwhile, the defrauded investors find themselves in a state of distress, as they struggle to establish contact with the shareholders who are either in hiding or based in Mumbai. Both offices of the fraudulent entities, located on Mukteshwar Road and in the Boomerang Building in Yadav Nagar, Powai, have been closed, with promises of repayment made without concrete action. These circumstances have heightened investor concerns. Investors are demanding that FIRs be filed against all individuals associated with this group of fraudulent companies, particularly the director, Ritesh Panchal.

As the enormity of this bank scam continues to unfold, affected investors stand united in their determination to recover their hard-earned money. The authorities have been alerted, and the demand for justice grows stronger with each passing day.

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