A special court in Mumbai has made significant observations in a money laundering case related to the Maharashtra State Cooperative Bank (MSCB), stating that close associates of Maharashtra Deputy Chief Minister Ajit Pawar acquired assets of a sugar cooperative at throwaway prices. The court's remarks came while taking cognizance of a chargesheet filed by the Enforcement Directorate (ED) in the case.
The case revolves around an alleged scam in the Sahakari Sakhar Kharkhana (cooperative sugar factories) and Sahakari Soot Girnis. The ED chargesheet, filed in April of this year, named three entities as accused: Guru Commodity Services Pvt Ltd, Jarandeshwar Sugar Mills Pvt Ltd, and chartered accountant Yogesh Bagrecha. Notably, Ajit Pawar is not listed as an accused in this case.
The special court examined the chargesheet, accompanying documents, and witness statements, and observed that it demonstrated a classic example of generating proceeds of crime from criminal activity. The court found sufficient grounds to issue summons to all the accused, who have been directed to appear before the court on July 19.
The court highlighted that a loan of Rs 826 crore was given by the Pune District Central Cooperative Bank and other banks for a mortgaged property of Jarandeshwar SSK Ltd, indicating that the assets of the cooperative were acquired by Ajit Pawar's close associates at throwaway prices.
While Ajit Pawar is not directly implicated in the case, the court noted that his wife, Sunetra Pawar, was a director of the accused company from 2004 to 2008 and had served as a former member of the Board of Directors of MSCB.
The alleged conspiracy in the case involved the illegal approval and distribution of loans, unauthorized sales, and misappropriation of properties entrusted to the MSCB and the District Central Co-operative Bank.
The proceedings, in this case, stem from a public interest litigation (PIL) filed in the Bombay High Court, which brought irregularities at the bank to light. The Economic Offences Wing initiated the investigation, followed by the ED's money laundering case in 2019.
Source: Link
Picture Source :
