The driver was one of 14 people killed in the unfortunate accident. Police charged him with causing the death through negligence, TOI reported.
An earlier report said the accident happened because a motorbike came from the wrong side of the road in the rain, causing the bus driver to lose his balance and crash into the river.
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However, police later said the accident was not caused by a motorbike but by the negligence of driver Chandrakant Eknath Patil, who attempted to overtake another large vehicle in the rain with limited visibility, conditions questionable roads and a slippery area.
At least two bodies of those who died on the bus are still missing, while 12 have been found. The bus crashed into the river from the 100ft high bridge, killing everyone on board.
Police said they took action against Patil based on their investigations and eyewitness statements. According to eyewitnesses, he was trying to overtake a truck.