Bombay High Court has given bail to one of the directors of a cooperative credit society in Warje Malwadi involved in a Rs 2.63 crore scam, says media reports.
A special auditor had found 500 instances of financial irregularities in Vighnagar Nagri Sahakari Pat Sangastha Maryadit.
A complaint of cheating, forgery and several other charges was lodged against 16 persons, who were office-bearers of the credit society. The scam spanned the period between 2000 and 2013.
Hearing the bail petition, the court said “The applicant accused being a director during the relevant period, may be liable for the financial liabilities and the misappropriation of funds committed in the credit society.