Nagpur: The Economic Offences Wing (EOW) of the City Police has taken action against Pramod Natthuji Manmode, Secretary of Nirmal Ujjwal Credit Co-Operative Society Ltd (Multi-State), and Nanda Bante, General Manager of the same society. They have been booked for allegedly defrauding Hindustan Microfinance Private Limited (HMPL) in a business deal worth over Rs 5.82 crore.
According to a press communique issued by the police, Anil Laxman Jadhav, the Chairman-cum-Managing Director of Hindustan Microfinance Private Limited based in Saki Naka, Mumbai, filed a complaint. The complaint stated that HMPL had entered into an agreement with Manmode and Bante on January 20, 2015. The agreement aimed to provide services to women’s self-help groups, including facilitating loans, recovery of payments, and offering investment opportunities.
Gold Rate
15 May 2025
Over the course of two years, from January 2015 to December 2017, the recovery agents of HMPL deposited funds amounting to Rs 5,82,68,385 into the bank account of Nirmal Ujjwal Credit Co-Operative Society Ltd. However, Manmode and Bante failed to honor their end of the agreement by not returning the funds to HMPL. Their actions were deemed a violation of the agreed-upon terms and conditions.
In response to the complaint, the Nandanvan Police Station has registered a case against Manmode and Bante under Sections 406 (criminal breach of trust), 420 (cheating), and 34 (common intention) of the Indian Penal Code (IPC). The investigation is being conducted under the supervision of Deputy Commissioner of Police (EoW), Archit Chandak.
