Archive · 13 Aug 2025
Ex-Karnala Bank CEO Allowed to Sell Unrelated Ancestral Property
A judge has said that the former CEO of Karnala Bank, Hemant Sutane, can sell his family's property.
He is currently in jail because he is accused of being involved in a big bank scam.
Sutane wanted to let his wife handle the sale of the property.
The prosecutor didn't want him to sell it because the money might be needed to pay back people who lost money in the scam.
However, the judge said it was fine because the property wasn't connected to the crime and it's his right to sell it.
Former Karnala Bank CEO Hemant Sutane is allowed to sell ancestral property.
The special court determined the property is not connected to the Rs512.54-crore Karnala Nagari Sahakari Bank scam.
Sutane, currently in prison, sought permission to execute a Power of Attorney for his wife.
The Public Prosecutor opposed, citing potential need for the property to repay depositors.
The court emphasized Sutane's civil right to deal with unrelated property.
- Who
- Hemant Sutane, former CEO of Karnala Bank.
- What
- Special court permitted ex-Karnala Bank CEO Hemant Sutane to sell his ancestral property.
- When
- Not explicitly stated in the articles.
- Where
- Mumbai.
- Why
- To address economic needs, as he is in jail, and the property is not connected to the crime.
Public Prosecutor's Concerns
Court's Decision
Property Use
Public Prosecutor's Concerns
Property might be needed for repayment of depositors.
Court's Decision
The Court allowed Sutane to deal with the property
- Accused
- Hemant Sutane
- Bank
- Karnala Nagari Sahakari Bank
- Scam Amount
- Rs512.54-crore
- Property Status
- Ancestral, not connected to the crime
- Court Decision
- Permitted sale via Power of Attorney to wife