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Industrialist, ex-BCCI vice-president Agashe dies

Agashe,also an industrialist, was facing criminal prosecution for a Rs 436-crore fraud in the Survarna bank and was in judicial custody at the time of death.

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PUNE: Dnyaneshwar Agashe, former vice-president of BCCI and founder-Chairman of Suvarna Cooperative Bank, died here on Friday night.
 
Agashe (67), also an industrialist, was facing criminal prosecution for a Rs 436-crore fraud in the Survarna bank and was in judicial custody at the time of death.
 
According to police, Agashe had been admitted to the Government Sassoon Hospital a few days back after he fell sick while in custody. He died in the ICU while under treatment for diabetic complications, hospital sources said.
       
Arrested by police on November 22 last along with his wife, son and 13 directors of the bank he founded and allegedly defrauded, Agashe had been at the centre of public ire following the unearthing of huge financial irregularities two years ago.
      
A long agitation by hundreds of the affected Suvarna depositors led to his arrest as the RBI appointed an administrator after putting the bank under moratorium.
      
A man of social standing before his fall from grace, Agashe had also headed the Maharashtra Cricket Association (MCA). He had represented Maharashtra in the Ranaji cricket league as wicket-keeper.
      
Agashe owned sugar industries and breweries and was also involved in construction business.
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