ED Books NCP Chief Sharad Pawar, Nephew In Rs 25,000 Cr Maharashtra Bank Scam
ED on Tuesday registered a money laundering case against NCP chief Shahrad Pawar, his nephew Ajit Pawar and 75 others in connection with a Rs 25,000 crore scam.
ED's move against the political big wigs from the NCP comes after the Bombay High Court in its last month's order asked the Economic Offences Wing of the Mumbai Police to file FIR against Sharad Pawar, Ajit Pawar and 75 others in the alleged scam.
The ED filed its case based on the FIR of the Mumbai Police, which lodged a case in connection with the scam last month. The case logged by the ED states irregularities in loan disbursements to cooperative sugar factories, and that loans were sanctioned despite them having weak financials.
In some cases, loans were given to companies without any collateral. The cooperative sugar factories were allegedly sold to close relatives of certain politicians. Other accused in the case include Diliprao Deshmukh, Isharlal Jain, Jayant Patil, Shivaji Rao Nalvade, and Anand Rao Adsul.
The development comes with less a month before Maharashtra Legislative Assembly elections scheduled to take place on October 22.
The Bombay High Court had ordered to register an FIR in the alleged scam as petitioner and local activist Surinder Arora had filed the case in the Bombay HC seeking an investigation into the Maharashtra State Co-operative Bank which was controlled largely by NCP leaders.
The FIR was registered against directors of MSCB, DCC banks in Maharashtra, Pen Urban Cooperative Bank, officials of the Maharashtra Government and banks and several other politician.
The accused were booked sections 406,409,420,467,468,471,34,120(B) of Indian Penal Code and sections of the Prevention of Corruption Act and Securisation Act.
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