ED submits chargesheet in MSC monetary establishment rip-off case, names of former Dy CM Ajit Pawar and partner Sunetra not included

On Wednesday, the Enforcement Directorate submitted a chargesheet in direction of the Maharashtra State Cooperative (MSC) Bank, throughout which it had earlier connected the properties of a sugar mill linked to NCP chief and Maharashtra’s former Deputy Chief Minister, Ajit Pawar and his partner Sunetra Pawar, to a courtroom dealing with money laundering circumstances.

However, in response to the research, Ajit Pawar and his partner Sunetra’s names have been dropped from the ED chargesheet nonetheless names of some firms, which acquired right here up whereas probing the MSC Bank rip-off, have been retained. The matter is listed for listening to on April 19.

MSC monetary establishment rip-off case | Enforcement Directorate has submitted a chargesheet throughout the case, throughout which it has named a company linked to former Maharashtra Deputy CM & NCP chief Ajit Pawar and his partner, whereas Pawar and his partner have not been named throughout the chargesheet. The ED had connected…

— ANI (@ANI) April 12, 2023

In July 2021, the Enforcement Directorate revealed that, in a case involving the Maharashtra State Cooperative Bank, it had connected property akin to land, a setting up, instruments, and tools worth over Rs 65 crore (purchase worth in 2010) of Jarandeshwar Sahkari Sugar Mill, which is situated in Koregaon in Maharashtra’s Satara district. The property had been leased to Jarandeshwar Sugar Mills Pvt Ltd by Guru Commodity Services Pvt Ltd.

During its investigation, the ED discovered that Sparkling Soil Pvt Ltd, a enterprise linked to Ajit Pawar and his partner Sunetra, owned the vast majority of the shares in Jarandeshwar Sugar Mills. The ED’s first such step throughout the Maharashtra State Cooperative Bank scandal, throughout which the monetary establishment is alleged to have fraudulently issued loans of Rs 25,000 crore, was the seizure of the Jarandeshwar Sugar Mill in Satara.

The MSC Bank scandal acquired right here to gentle after a PIL was filed throughout the Bombay HC by 4 petitioners. The petitioners talked about that quite a lot of sugar mills didn’t make funds on loans totaling crores, and that banks had seized the mills and purchased most of them at public sale to quite a few officers, along with distinguished politicians.

One of the monetary establishment’s directors, Ajit Pawar, bought only a few mills all through the general public sale. The Economic Offenses Wing then carried out an investigation after the Bombay High Court ordered to file a FIR.

The ED then submitted an intervention in opposition to the closure report that the EOW had filed sooner than the Mumbai Sessions Court in 2020. Additionally, protest petitions had been submitted by petitioners in opposition to the closure report.

According to the central investigation firm’s investigations, Guru Commodity Services Pvt Ltd was a fictitious enterprise used to purchase Sparkling Soil Pvt Ltd, whereas the sugar mill was actually owned and operated by the Jarandeshwar Sugar Mills Pvt. Ltd. “The major part of the funds utilised towards purchase of SSK was received from Jarandeshwar Sugar Mills Private Limited, which received the same from Sparkling Soil, a company related to Ajit Pawar and his wife,” the ED talked about in a press launch.

Further investigation found that between 2010 and 2021, Jarandeshwar Sugar Mills utilised Sparkling Soil Pvt Ltd as a technique of shopping for loans totalling almost Rs 700 crore from the Pune District Central Co-operative Bank and totally different financial institutions.