Pune Vinay Arhana : Enforcement Directorate or ED has arrested Vinay Arhana, director of the famous Rosary School in Pune. It has come to light that Arhana spent the Rs 20 crore loan taken from Cosmos Bank in Pune for the purchase of school materials and renovation of school buildings on the events of Bollywood celebrities.
Vinay Arhana and his Rosary International School have always been controversial. Many times parents have protested alleging that students and their parents are being extorted by Rosary for exorbitant fees. On the other hand, Vinay Arhana’s hi-fi lifestyle has always been a topic of discussion.
Vinay Arhana is known for expensive events, expensive cars and flamboyant looks. He asked for a loan from Cosmos Bank in Pune on the grounds that he wanted to buy some materials for the Rosary School of which he was the director, as well as renovating some of the school’s buildings. He was sanctioned a loan of 46 crore fifty lakh rupees from Cosmos Bank. Out of which, the bank deposited Rs 21 crore in the back account of the companies mentioned by Arhana.
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