Politics

ED files case against Sharad Pawar and Nephew Ajit Pawar in Maharashtra State Co-operative Bank scam case

The Bombay High Court had directed police to register an FIR against NCP chief Sharad Pawar, Former Deputy CM of Maharashtra Ajit Pawar and 70 others.

 

Mumbai| Adding to the list of the political leaders facing Enforcement Directorate action, the agency has registered a money laundering case against NCP chief Sharad Pawar and his nephew Ajit Pawar. Apart from the two leaders, 70 former functionaries of the Maharashtra State Cooperative Bank have been charged in the Maharashtra State Co-operative Bank Scam. According to sources, the ED has registered a case based on Mumbai Police FIR.

The Bombay High Court had directed police to register an FIR against NCP chief Sharad Pawar, Former Deputy CM of Maharashtra Ajit Pawar, Jayant Patil and over 70 others in the Maharashtra State Cooperative Bank scam. The court observed that they seemed to have “complete knowledge” that their actions would cause a huge loss to the bank.

Also Read: MSCB Scam: No relief for Ajit Pawar, Supreme Court orders police to complete probe

The court had asked Mumbai police’s Economic Offences Wing to register an FIR against the accused within five days. It also said that Prima facie there was “credible evidence” against the accused. Justice S C Dharmadhikari and Justice Sandeep Shinde observed that despite an inspection report of the National Bank for Agriculture and Rural Development (NABARD) for the year 2009-10 and chargesheet filed by a quasi-judicial enquiry commission under the Maharashtra Cooperative Societies (MCS) Act showing ā€œglaring irregularitiesā€, the police had not filed an FIR in the case.

 

What is the MSCB Scam?

Maharashtra State Co-operative Bank is the apex bank of all the co-operative banks in Maharashtra. The bank was in loss for many years. The loss was to the tune of billions and it was unable to recover it. However, it all came out after the NABARD report.
NABARD had claimed that the bank has come under scrutiny due to huge irregularities in debt collection and many other irregularities in the lending process. The Reserve Bank of India went a step further and pointed fingers directly towards the board of directors and this created a massive uproar in the state politics. The reason, the Board of Director of the state cooperative bank consisted of a top and powerful politicians from Maharashtra. Most of them were from Ruling NCP and the Congress. but others were also on the board.
https://www.youtube.com/watch?v=8PYw2jUbaew&t=5s
Dear Readers,
As an independent media platform, we do not take advertisements from governments and corporate houses. It is you, our readers, who have supported us on our journey to do honest and unbiased journalism. Please contribute, so that we can continue to do the same in future.

Related posts