Mumbai police requested the state CID to take over the probe, an official said.
The probe into alleged Rs 512.52 crore fraud at Karnala Nagari Sahakari Bank has been transferred to the Maharashtra Criminal Investigation Department (CID-Crime), Navi Mumbai police said on Friday.
Earlier, the Economic Offences Wing (EOW) of Navi Mumbai police was probing the case in which a former MLA is among the accused.
As the scope of the investigation is wider and several local persons were allegedly involved in the crime, Navi
Mumbai police requested the state CID to take over the probe, an official said.
The case was registered against 76 persons, including former Panvel MLA Vivekanand Shankar Patil for alleged irregularities to the tune of Rs 512.52 crore in the Karnala Nagari Sahakari Bank in February 2020.
The cooperative bank is headquartered at Panvel in neighbouring Raigad district.
Patil was then the chairman of the bank. He was named as accused along with senior bank officials as well as borrowers who had allegedly obtained loans fraudulently.
Navi Mumbai EOW filed a case under IPC section 420 (cheating), 409 (criminal breach of trust) and 468 (forgery
for cheating) along with the provisions of the Cooperative Societies Act and Maharashtra Protection of Interest of Depositors Act.
The irregularities came to light during an inspection by the Reserve Bank of India. The case was registered on the complaint of the state's commissioner for cooperation.
No arrest has been made yet.
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