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.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
News Network
February 27,2020

New Delhi, Feb 27: An Indian Air Force aircraft on Thursday evacuated 76 Indians and 36 foreign nationals from the coronavirus-hit Chinese city of Wuhan.

The C-17 Globemaster III transport aircraft was sent to Wuhan on Wednesday and it carried 15 tonnes of medical supplies for coronavirus-affected people in China.

On its return, the aircraft brought back 112 people, including 23 citizens from Bangladesh, six from China, two each from Myanmar and the Maldives and one each from South Africa, the US and Madagascar.

Earlier, India had evacuated around 650 Indians from Wuhan in two Air India flights.

“In all 723 Indian nationals and 43 foreign nationals have been evacuated from Wuhan, China, in these three flights,” the Ministry of External Affairs (MEA) said.

On the medical supplies delivered by India to China, the MEA said they would help augment the country’s efforts to control the coronavirus outbreak which had been declared as a public health emergency by the World Health Organisation.

“The assistance is also a mark of friendship and solidarity from the people of India towards the people of China as the two countries also celebrate 70th anniversary of establishment of diplomatic relations this year,” it said.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
News Network
April 20,2020

Mumbai, Apr 20: At least 53 media persons from Mumbai have tested positive for coronavirus, a city civic official said on Monday.

During a special camp organised at the Azad Maidan here on April 16 and 17 for COVID-19 testing of scribes, the Brihanmumbai Municipal Corporation (BMC) collected swab samples of 171 mediapersons, including electronic and print media journalists, photographers and cameramen.

“Out of the 171 mediapersons, 53 tested positive for coronavirus,” BMC spokesperson Vijay Khabale said, adding that most of those who tested positive are asymptomatic at present.

All the mediapersons found infected with coronavirus will be kept in isolation and a process was underway to find out suitable places to the purpose, he said.

Efforts were also on to trace their high and low risk contacts.

Till Sunday, Mumbai recorded 2,724 coronavirus cases and 132 deaths due to the disease.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
News Network
June 17,2020

New Delhi, 17: Tensions on the Indo-China border have spiked to the highest since 1962 after over 20 troops, including an Indian commanding officer, were killed in the face-off in Galwan valley that has seen a six-week long standoff underway with the Peoples Liberation Army.

The Army said that the soldiers – including the Commanding Officer of 16 Bihar regiment in charge of the area – died while a `de-escalation process’ was underway. Sources said that this death toll could rise up as some soldiers are currently not accounted for after PLA troops attacked with spiked sticks and stones in the Galwan valley.

Chinese side also has casualties but the number is still not known. The Indian death toll is perhaps the worst single day loss in decades and has come at a time when thousands of troops are forward deployed in Eastern Ladakh.

ET was the first to report on May 12 about a massive troop build up in the Galwan valley, which is an old flashpoint that had seen action in the 1962 war as well.

There have been reports of casualties on the Chinese side in the clash but numbers are currently not available. Worryingly, information from the ground suggests that several Indian soldiers, including four officers, are missing and could have been taken captive by a vastly larger Chinese force. Their status is still not known.

“During the de-escalation process underway in the Galwan Valley, a violent face-off took place yesterday night with casualties. The loss of lives on the Indian side includes an officer and two soldiers. Senior military officials of the two sides are currently meeting at the venue to defuse the situation,” an Indian Army statement reads.

The Ministry of External Affairs said that the clash occurred when the Chinese side violated the LAC. “On the late-evening and night of 15th June, 2020 a violent face-off happened as a result of an attempt by the Chinese side to unilaterally change the status quo there. Both sides suffered casualties that could have been avoided had the agreement at the higher level been scrupulously followed by the Chinese side,” a statement reads.

The loss of the Commanding Officer is especially devastating and he had been directly involved in de-escalation talks with the Chinese side, including one hours before the clash took place. Sources said that the talks on Monday morning had led to an agreement for Chinese forces to withdraw from Indian territory as part of the disengagement.

According to one version, the CO had gone to the standoff point with a party of 50 men to check if the Chinese had retreated as promised. As the Indian side proceeded to demolish and burn illegal Chinese structures on its side of the LAC, including an observation post constructed on the South bank of the river, a fresh stand off took place as a large force of Chinese troops returned back.

Sources said that a Chinese force in excess of 250 quickly assembled near Patrol Point 14 and were physically stopped by Indian soldiers from entering Indian territory. Soldiers from both sides did not use firearms but the Chinese soldiers carried spiked sticks to attack.

Given the terrain of the region, a part of the standoff and clash took place in the middle of the Galwan river that is currently flowing at full spate, leading to high casualties as injured soldiers got swept away. Indian soldiers have to cross the Galwan river at atleast five points to reach PP 14, which marks the LAC.

Chinese media reports on Tuesday quoted the spokesperson from its Western Theatre Command as laying claim over the Galwan valley region and blaming the Indian side for the clash. Reports quoted Col Zhang Shuili as saying that India has violated the consensus made during Army commander level talks.

As reported, Galwan river area has a painful history with China, with Peoples Liberation Army (PLA) soldiers surrounding a freshly set up Indian Army post in July 1962, in what would be one of the early triggers to the Sino-Indian war. At an Army post that was overrun at Galwan, 33 Indian soldiers were killed and several dozen taken captive in 1962.

In the past, the Doklam crisis in 2017 saw tensions building up along the Pangong Tso lake as well with soldiers engaging in a fight with sticks and stones. However, the Eastern Ladakh standoff is of a much more serious nature, with over 6000 Chinese troops lined up with tanks and artillery, faced off with a larger Indian forces. Troop build up has also been reported across the borders in Himachal Pradesh, Uttarakhand, Sikkim and Arunachal.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.