ED files chargesheet against MLA Rohit Pawar in Maharashtra Co-op Bank case
In March 2023, the agency provisionally attached assets worth Rs 50.20 crore belonging to Baramati Agro, including 161.30 acres of land, a sugar mill, machinery, and buildings located in Kannad, Aurangabad.The ED claims that the assets belong to Kannad Sahakari Sakhar Karkhana Limited (Kannad SSK), which Baramati Agro acquired through an allegedly rigged auction. According to the agency, the acquisition violated the Prevention of Money Laundering Act (PMLA), 2002, as the assets are deemed "proceeds of crime".The money laundering probe stems from an FIR filed by the Economic Offences Wing of the Mumbai Police in August 2019 under various IPC and Prevention of Corruption Act sections.The FIR alleged that several cooperative sugar mills (SSKs) were sold fraudulently by MSCB officials and directors to their relatives and private entities at throwaway prices, bypassing standard procedures.Specifically, the MSCB took possession of Kannad SSK's assets in 2009 to recover an outstanding loan of Rs 80.56 crore. The bank conducted an auction based on a questionable valuation, setting a low reserve price.The ED claims the auction was manipulated - disqualifying the highest bidder on weak grounds and allowing a close associate of Baramati Agro, with no experience or financial strength, to remain in the race.ED has stated that three provisional orders have been issued so far, attaching assets worth Rs 121.47 crore in connection with the case. The agency now maintains that the final confirmation of the attachment has been secured, and the supplementary chargesheet has been filed in the Special PMLA Court.- Ends
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