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Kirit Somaiyas motivations for the Pen bank scam are questioned by an activist
In relation to the Rs 758 crore Pen Cooperative Urban Bank (PCUB) issue, activist Janardan Parte has questioned BJP leader Amit Shah’s motivations for declaring that the attached properties of individuals guilty in the fraud should be freed. Somaiya, who was recently in Pen bank scam, stated that the Enforcement Directorate (ED) will free the accused’s attached properties while compensating impacted depositors with insurance money. Parte questioned Somaiya’s motives, believing that the accused would get the upper hand if ED released the assets that it had confiscated and that depositors would have less choices for getting their money back. Shirish Dharkar, the primary defendant, is a former BJP politician who bought land close to the Navi Mumbai International Airport and other locations.
After a re-audit revealed the depth of the bank’s losses, the PCUB scandal was made public in October 2010. Police utilised the Maharashtra Protection of Interest of Depositors Act and ED to seize the accused’s property. The trustees and bank chairman are included in the FIR. In proceedings brought by the ED, CBI, and the state’s Economic Offences Wing, more than 50 people were listed as defendants, including bank director J Gurav and businessman Amardeep Singh Vig. The bank had about 1.98 lakh depositors, 18 locations (including three in Mumbai), and 42,000 stockholders. Somaiya has previously said to the media that the ED, state and union cooperation ministries, and the PCUB fraud problem will be discussed.
“Depositors are battling to get their money back while one of the accused, who is Navi Mumbai’s top advertising firm owner, is enjoying international travels with his family and playing golf in an opulent commercial complex,” activist Anarjit Chauhan said. “Auction of connected assets of guilty under MPID as per Bombay HC judgement, can assist depositors get back the money they lost,” Thevidar Sangharsh Samiti’s acting president, Naren Jadhav, said.
Latest News
Taloja Industrialists Protest 36-Hour Water Cut, Demand Shorter Shutdown
Manufacturers seek a reduction to 24 hours, citing production losses and water wastage caused by pipeline leakages.
The Demand
Industrialists in the Taloja Maharashtra Industrial Development Corporation (MIDC) area have opposed the proposed 36-hour water supply shutdown and announced a protest march on October 29 to demand a shorter disruption.
The Taloja Manufacturers’ Association (TMA) and Taloja Industries Association (TIA) have called for the protest outside the MIDC water supply office at 1 pm. They have urged the authorities to reduce the shutdown period from 36 hours to 24 hours. Industrialists said the extended water cut, along with the time required to restore normal supply, could disrupt factory operations for nearly 48 hours. The disruption could affect production, employment and industrial safety, particularly in chemical units that depend on a regular water supply.
MIDC has reportedly planned the shutdown due to concerns over water availability from Barvi Dam and the need to manage limited resources. However, industry representatives argue that the authorities should first address water wastage caused by leaking pipelines and unauthorised connections. According to the TMA, nearly 8 million litres of water are wasted daily in Taloja due to these issues.
The associations have demanded urgent pipeline repairs, action against unauthorised connections and alternatives such as supplying water at reduced pressure instead of imposing a complete shutdown. TMA president Shekhar Shringare warned that the protest could be intensified if the authorities fail to address the industry’s concerns. A meeting with MIDC officials was scheduled for October 27 to discuss the demands and explore possible solutions.
Latest News
Woman Killed by Garbage Truck in Turbhe, Residents Protest Delayed Flyover
Fatal accident sparks road blockade as locals demand urgent pedestrian safety measures and completion of long-pending project.
The Protest
A 50-year-old woman died after being hit by a Brihanmumbai Municipal Corporation (BMC) garbage truck near Turbhe railway station on Thane-Belapur Road on Monday evening, October 26. The incident triggered protests by local residents, who blamed the prolonged delay in completing the Turbhe Store flyover for the unsafe road conditions.
Following the accident, angry residents blocked the road and demanded immediate action from the authorities. They called for the completion of the flyover and the construction of a temporary footbridge to ensure pedestrian safety until the project is completed. Police intervened, and traffic was subsequently restored.
The flyover project was approved by the Navi Mumbai Municipal Corporation (NMMC) in 2019 to ease traffic congestion and improve safety in the area. However, construction has been delayed due to issues involving underground MIDC sewage pipelines, design changes and administrative hurdles.
Residents said the busy stretch poses a serious risk to pedestrians, including workers, students and senior citizens who cross the road daily. According to locals, 23 people have died and more than 50 have been injured in accidents in the area over the past decade.
The latest fatal accident has once again raised concerns over road safety and the lack of adequate pedestrian crossing facilities.
Residents have urged the civic authorities to expedite the flyover work and introduce immediate safety measures to prevent further loss of life. They said temporary arrangements are urgently needed while the long-pending project remains incomplete.
Latest News
Pharmaceutical Company Cheated of Rs 40.20 Lakh in Investment Scam
Vashi Police book two accused for allegedly promising Rs 100–200 crore investment to expand business.
The Scam
A pharmaceutical chemicals company has allegedly been cheated of Rs 40.20 lakh by two people who promised to invest Rs 100 crore to Rs 200 crore to support its business expansion. Vashi Police have registered a case against Pooja Umak and a person identified as Chirag, who allegedly posed as financial consultants and collected money under the pretext of consultancy fees, project report modifications and other business formalities. Police are searching for the accused.
According to the complaint, Ashwani Kumar Singh (52), vice-chairman of Embellish Pharmatech Pvt Ltd and a resident of Roorkee, Uttarakhand, was approached by Umak on May 14, 2026, when he was in Vashi for work. She allegedly claimed to represent Fluidmaster India Pvt Ltd and expressed interest in investing Rs 100 crore to Rs 200 crore in his company.
Umak later visited the company’s premises in Haridwar for an inspection, with Singh arranging her air ticket. She allegedly demanded money on several occasions for consultancy services and project-related procedures.
During a subsequent visit to Delhi, Umak introduced Singh to Chirag, claiming he managed the company’s Indian operations while its chairman was based abroad. Trusting their assurances, Singh allegedly transferred a total of Rs 40.20 lakh to various bank accounts. However, the promised investment never materialised, and the accused allegedly avoided his requests for a meeting with the chairman.
After suspecting fraud, Singh approached the cybercrime helpline and later filed a complaint with Vashi Police. A case has been registered under Sections 318(4), 319(2) and 3(5) of the Bharatiya Nyaya Sanhita and Section 66D of the Information Technology Act. Further investigation is underway under Senior Police Inspector Shashikant Chandekar.
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