ED seizes Rs 50 crore property of mill tied to Pawar kin | India Information – 7 minute timer

ED seizes Rs 50 crore property of mill tied to Pawar kin | India Information

NEW DELHI: ED has hooked up property value Rs 50 crore belonging to Kannad Sahakari Sakhar Karkhana Ltd, which is owned by NCP (Sharad Pawar) MLA Rohit Pawar’s firm Baramati Agro Ltd.The property embody 161.30 acres of land, plant and equipment, and the constructing of the sugar unit in Kannad, Aurangabad. ED’s motion is a part of its probe right into a money-laundering case associated to the Rs 25,000-crore Maharashtra State Cooperative Financial institution (MSCB) rip-off. The hooked up property have been acquired over a decade in the past by a questionable public sale course of, ED alleged.Chatting with TOI, Rohit Pawar questioned ED’s motion and stated that he would problem it in court docket. “ED’s action is completely illegal. The closure report filed by the economic offences wing of Mumbai police is already with the court. My name is nowhere in the report. People involved include some BJP leaders, besides those who recently joined govt. Interestingly, none of them are being questioned or summoned by ED.”On Friday, ED issued a press launch on the method undertaken by the financial institution to recuperate an impressive mortgage of Rs 80.56 crore of Kannad SSK, which included taking possession of all of the property of SSK. “On August 30, 2012, MSCB conducted the auction of Kannad SSK by fixing a very low reserve price based on a questionable valuation report. Apart from Baramati Agro Ltd, two other parties entered the bidding process. The one with the highest bid was technically disqualified on a flimsy ground, whereas the other bidder was already a close business associate of Baramati Agro Ltd with no financial capacity or experience of running a sugar unit,” the discharge stated. “Based on the investigation conducted and evidence collected so far, it has been established that the acquisition of Kannad SSK by Baramati Agro Ltd was illegal.”ED’s cash laundering case is predicated on an FIR registered by the financial offences wing of Mumbai police, registered on instructions of Bombay HC in 2019. Within the FIR, it was alleged that a number of loss-making cooperative sugar mills have been bought fraudulently by MSCB board members (politicians-ministers) at throwaway costs to their family/non-public individuals by rigged auctions.In 2020, EOW filed its first closure report within the MSCB rip-off involving Ajit Pawar and different politicians, together with Rohit. Later, in 2022, it filed an utility to reopen the case and stated it wished to additional probe some suspicious offers involving the Pawars, together with a couple of different transactions. The applying additionally referred to ED’s probe into the money-laundering case linked to the rip-off. On Jan 20, EOW, by a particular public prosecutor, submitted a closure report (C-summary) for the second time.On the time of the primary closure report, Ajit Pawar was deputy CM within the MVA authorities, whereas on the time of EOW’s utility for in search of permission for additional investigation, he was chief of opposition.

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