Alibag, Apr 3 (PTI) A total of Rs 184 crore has been recovered from debtors by the Pen Urban Cooperative Bank located in Maharashtra's Raigad district, the lender's administrator said on Monday.

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The bank was hit by a scam of more than 795 crore in 2010, which was probed by the Enforcement Directorate under the Prevention of Money Laundering Act.

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Several bank officials were arrested for alleged misappropriation of funds to buy property etc, resulting in the loans becoming non-performing assets, as per the ED.

The one-time settlement scheme has mopped up Rs 2.74 crore from 227 debtors, while loan recovery stood at Rs 184.71 crore, the administrator said in a release.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)