The Enforcement Directorate (ED) has attached assets worth ₹65.75 crore in a money laundering case related to the Maharashtra State Co-operative Bank (MSCB).
The properties, which include land, building, plant and machinery of Jarandeshwar Sahkari Sugar Karkhana in Satara, are currently held in the name of Guru Commodity Services Private Limited and leased to Jarandeshwar Sugar Mills.
“Sparkling Soil Private Limited is holding majority shares of Jarandeshwar Sugar Mills Private Limited. Investigation revealed that Sparkling Soil Private Limited is a company related to Ajit Pawar, Deputy Chief Minister of Maharashtra, and Sunetra Ajit Pawar,” said the ED in a statement on Thursday.
FIR in 2019
The probe is based on a First Information Report (FIR) registered on August 26, 2019, by the Economic Offence Wing of the Mumbai Police under Section 120B, read with Sections 420, 467, 468, 471 of the Indian Penal Code and Sections 13(1)(b) & 13(1)(c) of the Prevention of Corruption Act.
The FIR was instituted following a Bombay High Court directive dated August 22, 2019. In the said FIR, it was alleged that the Sahkari Sugar Karkhanas (SSKs) were fraudulently sold by the then officials and directors of the MSCB at throwaway prices to their relatives and private persons without following the due procedure prescribed under the SARFAESI Act.
“Investigation conducted under the PMLA [Prevention of Money Laundering Act] revealed that the MSCB conducted auction of Jarandeshwar SSK in year 2010 at undervalued price and without following due procedure. Ajit Pawar was one of the prominent and influential members of board of directors of MSCB at the relevant time,” said the ED.
The SSK was bought by Guru Commodity Services Private Limited and immediately leased to Jarandeshwar Sugar Mills, which is currently operating the Jarandeshwar SSK. The major part of the funds used towards purchase of the said 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 alleged.
Although Guru Commodity Services Private Limited (a dummy company) was used to acquire the said SSK, the sugar mill was actually controlled and run by Jarandeshwar Sugar Mills. The SSK was used as a vehicle by Jarandeshwar Sugar Mills to get about ₹700 crore in loans from the Pune District Central Co-operative Bank and others, 2010 onwards, alleged the ED.
