The Rs 7.46 cr alleged Renuka Devi Society loan fraud and Dr Advay Hiray-Patil’s arrest, here are details

Early this year, Dr Advay Hiray-Patil came out in full support of government employees who were agitating for the old pension scheme. (Pic: The Voice of Malegaon)  

A police team of investigators from the Local Crime Branch (LCB) picked up Dr Advay Hiray-Patil at hotel Sayaji in Bhopal today, Nashik Superintendent of Police IPS Shahaji Umap revealed. Hotel Sayaji is in the jurisdiction of Kamala Nagar Police Station in the heart of the city. Dr Patil has been evading arrest since November 6, 2023, when the Bombay High Court rejected his anticipatory bail plea in an alleged Rs 7.46 crore loan fraud case, Umap added.

While speaking exclusively to The Voice of Malegaon, Umap said after his (Dr Patil’s) anticipatory bail plea was turned down, he formed a squad of seven sleuths from the LCB and made PSI Ganesh Shinde its in-charge. It must be noted that in April 2023, an Additional Sessions Court in Malegaon turned down Dr Patil’s anticipatory bail plea in the same case.

“As the Nashik Rural Economic Offences Wing (EOW) is a financial investigating unit it usually has less number of staff. Hence we assigned the task of locating Dr Patil’s whereabouts to the LCB,” Umap said. “Since then the LCB went to many places and finally got a breakthrough today after searching for nine days,” Umap added. 

Dr Patil, his mother Smita, father Prashant, one Surekha Shirude and 24 others were made accused in the Rs 7.46 crore loan fraud case filed at Ramzanpura Police Station, Malegaon on December 03, 2018. Subsequently, the case was transferred to the Economic Offences Wing (EOW), Nashik Rural. Out of a total of 28 accused, Smt. Renuka Devi Yantramag Mahila Sahakari Soot Girni Ltd or Renuka Devi Society is the accused No 1.

We formed a team of seven officers from the LCB and made PSI Ganesh Shinde its in-charge to find out Dr Advay Hiray Patil’s whereabouts. Finally, he was today picked up at hotel Sayaji in Bhopal after a nine days’ search, IPS Shahaji Umap, Nashik Rural Police chief

The Society is registered under the Maharashtra Co-Operative Societies Act, 1960. Similarly, Shri Vankatesh Co-Operative Bank Ltd is the accused No 15 and Dr Patil’s father Prashant Hiray who was its Chairman is accused No 16 in the case. Dr Advay Hiray Patil was the Chairman of the Nashik District Central Co-Operative Bank (NDCC) from 2012-2013. 

The loan fraud case    

It has been alleged that in 2012, the Renuka Devi Society had applied for a loan at the NDCC whose Chairman at that time was Dr Patil. The Society needed the loan for starting a spinning mill. Interestingly, Dr Patil’s mother Smita Prashant Hiray was Society’s Chairman and one Surekha Dinesh Shirude was Vice-Chairman. It has also been alleged that for the first tranche of a loan amount of Rs 2.80 crore, the applicant mortgaged a property worth Rs 1,51,74,650 only.

The same property was again mortgaged allegedly for seeking loans of Rs 2.20 crore and 2.46 crore. The said loan amount of Rs 7.46 crore was transferred to the bank account of Renuka Devi Society instead of the amount being disbursed to the sellers of equipment and machinery.  It has also been alleged that no equipment or machinery was purchased and thus the money was siphoned off. The amount Rs 7.46 crore was then transferred from Renuka Devi Society’s account to the Vyankatesh Co-Operative Bank’s account, it has been alleged. 

Cry for political vendetta 

In January 2023, Dr Advay Hiray Patil jumped the ship and joined the Shiv Sena faction led by Uddhav Balasaheb Thackeray. Earlier, he was a hardcore member of the Bharatiya Janata Party (BJP) and was ready to fight the assembly election on the party ticket. But after Eknath Shinde-led rebellion in 2022, Dada Bhuse, the Shiv Sena strongman from 115 Malegaon Outer Assembly Constituency, switched loyalty to the Shinde camp which has been in alliance with the BJP ever since.

Dr Patil and his family have time and again vociferously denied these charges terming them being politically motivated. The Hiray family has alleged that the series of FIRs against them has come in the wake of Dr Patil joining forces with the Uddhav Balasaheb Thackeray-led Shiv Sena. 

Case history

In December 2018, the Regional Officer, Malegaon of NDCC filed a case under Sections 409, 420, 465, 468, and 471 of the Indian Penal Code, 1860 at Ramzanpura Police Station. In the intervening period, it is learnt that, the Registrar of Co-Operative Societies conducted an enquiry under Section 88 of the Maharashtra Co-Operative Societies Act, 1960. Subsequently, another FIR (51/2023) was registered at 01.13 am on March 30, 2023.   

Additional Sections and Act Added

Subsequently, Sections 120B, 406, 469, and 201 of the IPC were added. Besides, Sections 3 and 4 of the Maharashtra Protection of Interest of Depositors (In Financial Establishments) Act, 1999 were also added. Police Inspector Rahul Tasare of EOW Nashik Rural who was part of the team that went to Bhopal is investigating the case. He said Dr Patil will be produced before the court tomorrow.