Rohit Pawar named in charge sheet in Kannad SSK case
The investigation, under the Prevention of Money Laundering Act (PMLA), found that the acquisition of the Kannad Sahakari Sakhar Karkhana (SSK), based in Chhatrapati Sambhaji Nagar, was allegedly illegal, according to ED officials. The Kannad SSK has been acquired by Baramati Agro Private Limited (BAPL) owned by Pawar.
The ED had issued a provisional attachment order under PMLA, attaching all the assets of Kannad SSK, worth ₹50.20 crore, in March 2024.
Pawar, BAPL's then chief executive officer, was questioned twice by the ED last year. The NCP (SP) MLA represents the Karjat-Jamkhed assembly constituency in Maharashtra.
NCP (SP) spokesperson Clyde Crasto said on Friday, 'The opposition has been targeted for a long time now, while those in government are being overlooked despite evidence of malpractices. Pressurising the opposition through central agencies has not worked before and will not work in the future either.'
The MSCB money laundering case arises from an August 2019 FIR of the Economic Offences Wing (EOW) alleging fraudulent sale of Sahakari Sakhar Kharkhana (SSKs) by then officers and directors of the bank at 'throwaway prices' to their relatives or private persons, without following due procedure.
The EOW has alleged that MSCB, in order to recover an outstanding loan of ₹80.56 crore from Kannad SSK, had taken possession of all its assets in July 2009, under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest (SARFAESI) Act.
Further, on August 30, 2012, the MSCB had conducted an auction of Kannad SSK by allegedly fixing a very low reserve price based on a questionable valuation report, ED sources said.
Apart from BAPL, two other parties had entered the bidding process. The bidder with the highest bid was allegedly technically disqualified on allegedly flimsy grounds, whereas one of the other bidders was already a close business associate of BAPL, with no financial capacity or experience of running a sugar unit, according to the ED. Kannad SSK was eventually purchased by BAPL allegedly for around ₹50 crore.
BAPL was on the ED's radar in the case for allegedly funding a co-bidder for complying with the requirement of submitting an Earnest Money Deposit (EMD) of ₹5 crore to participate in the auction, according to ED sources.
The ED has submitted a main charge sheet and two supplementary charge sheets before a Mumbai special court in connection with its probe relating to allegedly wrongful acquisition of three other SSKs as part of the MSCB case investigation.
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