Under the pretext of gilt trading, almost Rs.600
crores has been swindled from more than 25
• 13 of them in Maharashtra
• 12 in Gujarat.
• Home Trade and four of its affiliates lured cooperative
banks with 2 % to 7 % higher returns on investment in
gilts. The brokerage firm claimed to have bought
government securities (G-secs) for the banks.
• When Home Trade defaulted on payments and the loss
of investments began to burn a hole in the pockets of the
Nagpur District Central Cooperative Bank, its chairman
Sunil Kedar filed a criminal complaint against Home
Trade for not delivering G-sec certificates worthRs.125
crores. The next day, April 26, the scam
unravelled further as similar complaints poured in from
other parts of Maharashtra.