ED now books Sharad Pawar, Ajit Pawar in Rs 25000 cr MSCB scam

Agencies
September 25, 2019

Mumbai, Sept 25: Triggering a political earthquake ahead of the October 21 Assembly elections in Maharashtra, the Enforcement Directorate (ED) has registered a money laundering case against Nationalist Congress Party (NCP) President Sharad Pawar, his nephew Ajit Pawar, and several other politicians and officials in the Maharashtra State Cooperative Bank (MSCB) scam worth around Rs 25,000 crore, officials said here on Tuesday.

It may be recalled that on August 22, IANS was the first and only news media to report that Sharad Pawar could face charges in the MSCB imbroglio which exploded after the Bombay High Court judgement last month.

The ED's move against the political bigwigs came after the Bombay HC ordered the Economic Offences Wing (EOW) of the Mumbai Police to probe and file cases against the Pawars and others in the matter, setting the politicians scurrying.

Following the EOW's FIR in late August, the ED filed its case on Tuesday.

Mumbai-based activist Surinder M. Arora had approached the Bombay HC, demanding an investigation into the MSCB scam.

Earlier this month, Ajit Pawar and others had moved the Supreme Court to quash the proceedings in the matter, but Justices Arun Mishra and M.R. Shah had declined the plea and instead asked the Mumbai Police to conduct a free and fair probe.

The ED said there were several irregularities in loans provided to the cooperative sugar factories (CSFs) by the MSCB officials who were allegedly connected to the owners of the factories.

The loans were sanctioned to the factories despite weak financials, negative net worth, collaterals not taken in many cases and additional facilities extended without any justification.

This and other factors resulted in many of the cooperative sugar factories falling sick while many were sold at lower than the reserve price for the benefit of the buyers who were personally or politically connected with the MSCB directors whose consent was not taken before the sales.

Besides, the ED said many transactions involved forged sales documents and many sales were effected without inviting tenders, thus flouting rules of the NABARD, RBI and SARFAESI.

"There was huge misappropriation of funds on the part of committee members, directors and loan committee members of MSCB, acting in connivance to siphon off the money and causing huge losses to the bank," said the ED.

Setting the ball rolling last month, a division bench of Bombay HC comprising Justices S.C. Dharmadhikari and S.K. Shinde had ruled that there was prima facie credible evidence and directed the EOW to initiate proceedings invoking the relevant provisions of the law.

The Pawars and other prominent politicians, named in a public interest litigation filed by Arora, were accused of causing losses worth around Rs 25,000 crore to the MSCB between 2007 and 2011.

Earlier, a quasi-judicial probe panel under the Maharashtra Cooperative Societies Act had blamed Pawars and the others accused in the matter.

The National Bank for Agriculture & Rural Development (NABARD) had also inspected and audited the MSCB, revealing flouting of various banking and Reserve Bank of India (RBI) rules while distributing loans to sugar factories and spinning mills, and the subsequent defaults on repayments and recoveries of the dues.

Despite the probe reports and complaints lodged by Arora, no action or FIR was filed in the matter after which he filed a PIL in the high court in 2015.

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News Network
June 24,2020

New Delhi, Jun 24: In a stinging attack on the Gandhi family of the Congress, BJP president J P Nadda on Wednesday said a dynasty and its courtiers have "grand delusions" of the opposition being about itself and stated that a "rejected and ejected" family is not equal to the entire opposition.

In his tweets, Nadda said it was the time for unity and solidarity, and the "relaunch of the scion for the nth time can wait", an apparent dig at Rahul Gandhi, who has been aggressive in his attacks on Prime Minister Narendra Modi for his handling of the border row with China.

Nadda said India lost thousands of square kilometres of land due to the "misadventures of one dynasty" and claimed that the Siachen glacier, where the Indian Army has a strong presence, was almost gone. No wonder India has rejected them, he said.'

The BJP president posted a news report to back his assertions about Siachen.

"One 'royal' dynasty and their 'loyal' courtiers have grand delusions of the Opposition being about one dynasty. A dynast throws tantrums and his courtiers peddle that fake narrative. The latest one relates to the Opposition asking questions to the Government," Nadda said.

Though he did not directly name the Gandhi family or any of its members, the reference was clear.

He said it was the opposition's right to ask questions and added that the all-party meeting called by Prime Minister Narendra Modi saw healthy deliberations, with several opposition leaders giving their valuable inputs.

They also fully supported the Centre in determining the way ahead, Nadda said.

"One family was an exception. Any guesses who," he asked.

Targeting the Gandhis, the BJP president said, "One rejected and ejected dynasty is NOT equal to the entire Opposition. One dynasty's interests are not India's interests. Today, the nation is united and supportive of our armed forces. This is the time for unity and solidarity. Relaunch of 'the scion' for the nth time can wait."

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News Network
July 1,2020

Sopore, Jul 1: Police rescued a three-year-old boy from getting hit by bullets during a terrorist attack in Jammu and Kashmir's Sopore on Wednesday.

Earlier in the day, a Central Reserve Police Force (CRPF) jawan and a civilian lost their lives after terrorists fired upon a CRPF patrolling party in Sopore.

Two of the injured CRPF jawans are known to be in critical condition. Three CRPF personnel were also injured in the attack, as per CRPF.

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News Network
June 6,2020

New Delhi, Jun 6: Military commanders of India and China are scheduled to meet today at Moldo on the Chinese side of the Line of Actual Control (LAC), to discuss the ongoing dispute along the LAC in Eastern Ladakh.

The Commander of the Leh-based 14 Corps of the Indian Army Commander Lieutenant Gen Harinder Singh will meet his Chinese equivalent Maj Gen Liu Lin, who is the commander of South Xinjiang Military Region of Chinese People's Liberation Army (PLA) to address the ongoing tussle in Eastern Ladakh between the two countries over the heavy military build-up by the People's Liberation Army along the LAC there.

The two sides have held close to a dozen rounds of talks since the first week of May when the Chinese sent over 5,000 troops to the LAC.

On Friday, officials of India and China interacted through video-conferencing with the two sides agreeing that they should handle "their differences through peaceful discussion" while respecting each other's sensitivities and concerns and not allowing them to become disputes in accordance with the guidance provided by the leadership.

In the last few days, there has not been any major movement of the People's Liberation Army troops at the multiple sites where it has stationed itself along the LAC opposite Indian forces.

India and China have been locked in a dispute over the heavy military build-up by the People's Liberation Army (PLA) where they have brought in more than 5,000 troops along with the Eastern Ladakh sector.

The Chinese Army's intent to carry out deeper incursions was checked by the Indian security forces by quick deployment. The Chinese have also brought in heavy vehicles with artillery guns and infantry combat vehicles in their rear positions close to the Indian territory.

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