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Hindustan Times
12-07-2025
- Business
- Hindustan Times
Rohit Pawar named in charge sheet in Kannad SSK case
MUMBAI: The Enforcement Directorate (ED) has submitted a supplementary charge sheet against NCP (SP) MLA Rohit Pawar and two others in its money laundering probe relating to the sale of sugar mills by the Maharashtra State Cooperative Bank (MSCB). Rohit Pawar (PTI Photo) (PTI) 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.
The Hindu
04-07-2025
- Business
- The Hindu
Need clarity on move to ‘delink' BrahMos Thiruvananthapuram unit: P. Rajeeve
The Industries department is of the stand that the Thiruvananthapuram unit of BrahMos should be retained in the public sector, Industries Minister P. Rajeeve has said. Responding to questions at a press conference here on Friday on the alleged move to 'delink' the Thiruvananthapuram unit of BrahMos from the parent BrahMos Aerospace Pvt Ltd (BAPL), the Indo-Russian missile joint venture, he said that further discussions will be held in this regard with the officials concerned to bring more clarity on the issue. Over the past few weeks, employees at the BrahMos Aerospace Thiruvananthapuram Ltd (BATL), situated at Chakka in the State capital, have been concerned over a reported move to separate BATL from BAPL, of which it is a wholly-owned subsidiary. They have sought the urgent intervention of the Kerala government to discourage any move that adversely impacts the future of the unit and jobs. Mr. Rajeeve said that despite this development, the expansion plans of BrahMos are going ahead in full steam. Discussions regarding the land required for expansion have already taken place, he said.
The Hindu
30-06-2025
- Politics
- The Hindu
Leader of the Opposition V.D. Satheesan writes to Defence Minister Rajnath Singh against move to delink BrahMos Aerospace Thiruvananthapuram Ltd. from parent company
Leader of the Opposition V.D. Satheesan has shot off a letter to Defence Minister Rajnath Singh seeking urgent measures for the protection of BrahMos Aerospace Thiruvananthapuram Ltd. (BATL). Mr. Satheesan has urged Mr. Singh to retain the BATL as a subsidiary of the Indo-Russian missile joint venture BrahMos Aerospace Pvt. Ltd. (BAPL) or restructure it as a direct production centre under the Defence Research and Development Organisation (DRDO). Mr. Satheesan wrote the letter to New Delhi amidst reports that the BAPL management was moving to 'delink' the BATL from it. Growing concern He informed the Defence Minister that there was 'growing concern' that such a decision could ultimately result in the privatisation of the unit. Employees unions had raised serious concerns over the alleged move and had sought the immediate attention of the State government in this matter. The BATL, as a subsidiary of the BAPL, had played a vital role in India's missile production ecosystem and national security framework, Mr. Satheesan said. 'The timing of the delinking immediately after the success of Operation Sindoor raises further apprehension. I am told that neither the Kerala government, nor the employees, nor the trade unions were consulted or informed about this critical shift. There is growing concern that this move may be a prelude to eventual privatisation or transfer of the unit to an unknown private player,' Mr. Satheesan said in the June 27 letter. Mr. Satheesan urged Mr. Singh to ensure that the BATL was retained as a fully-owned subsidiary under the BAPL, 'preserving its current functional, administrative and strategic status,' or, reconstitute it as a direct production centre under the DRDO with the employees enjoying status and benefits equal to that of DRDO staff.
The Hindu
28-06-2025
- Business
- The Hindu
Alleged move to ‘delink' BrahMos Thiruvananthapuram unit from parent organisation kicks up row
An alleged move to 'delink' the Thiruvananthapuram unit of BrahMos from the parent BrahMos Aerospace Pvt Ltd (BAPL), the Indo-Russian missile JV, has cast a pall of uncertainty over an enterprise that was once hailed as a model of Centre-State collaboration. Over the past few weeks, employees at the BrahMos Aerospace Thiruvananthapuram Ltd (BATL), situated at Chakka in the State capital, have been concerned over a reported move to separate BATL from BAPL, of which it is a wholly-owned subsidiary. They have sought the urgent intervention of the Kerala government to discourage any move that adversely impacts the future of the unit and jobs. When contacted by The Hindu, BATL managing director A. Joseph said the Thiruvananthapuram unit has not been delinked thus far, but he also did not fully rule out the possibility of such an eventuality. Mr. Joseph went on to add that he was not privy to the discussions taking place at the BAPL headquarters. Employees' unions argue that the Kerala government cannot be kept in the dark about such decisions with respect to BATL as the unit was established in 2007 by transferring the State government-run company Kerala Hi-Tech Industries Ltd (KELTEC) for a token ₹1. Unions allege that the BrahMos management have show utter disregard to the Thiruvananthapuram unit even at a time when Operation Sindoor has demonstrated the might of the BrahMos missile and the demand for its production is on the rise. They also note that BATL has run on a profit over the past 11 years, including a ₹24 crore profit in 2024-25. With the INTUC-led BrahMos Staff Association and the AITUC-backed BrahMos Employees Union conveying their apprehensions over the reported delinking move, Thiruvananthapuram MP Shashi Tharoor and CPI State secretary Binoy Viswam, who is also president of the AITUC-led union, have separately appealed to Defence Minister Rajnath Singh to urgently intervene to protect the unit. Mr. Tharoor noted in a June 27 letter that 'Employees were recently alarmed to learn - through proceedings at a Board of Directors meeting and the Annual General Meeting of BAPL - that a resolution had been passed to delink BATL from BAPL. This decision was taken without the prior knowledge or consultation of the State government, the employees, or the trade unions, and has been widely perceived as a disregard for the significance of this vital defence manufacturing unit in Kerala.' Mr. Viswam, in a June 4 letter expressed similar sentiment, and urged Mr. Singh to 'investigate this matter.' Both Mr. Tharoor and Mr. Viswam have urged the Defence Minister to allay fears by either retaining BATL under BAPL's structure or reconstituting it as a direct production entity under the Defence Research and Development Organisation (DRDO). KELTEC, situated on 15.80 acres near the Thiruvananthapuram airport, was transferred to BAPL, a JV of the DRDO and Russian company NPOM, on December 5, 2007. A.K. Antony was Defence Minister at the time in the Congress-led UPA government while Elamaram Kareem was Industries Minister in the LDF government led by V.S. Achuthanandan in Kerala. In connection with the transfer, a March 22, 2007, State Industries Department order observed that the Centre-State collaboration would provide Kerala with its 'first defence production unit.' It would also 'result in additional investments between at least ₹100 crore to ₹200 crore initially and may go up many fold.' Ends
Time of India
12-06-2025
- Business
- Time of India
Navy chief docks in Nagpur to inspect defence manufacturing units
1 2 3 Nagpur: Navy chief Admiral Dinesh Kumar Tripathi camped in Nagpur for two days, visiting both govt and private defence manufacturing setups and carrying out detailed inspections of the facilities. The visit assumes importance as the armed forces are eyeing production of long-range missiles and even drones and counter-drone systems. The visit was significant in the backdrop of Operation Sindoor, said sources. It also followed a visit by Defence Research and Development Organisation's (DRDO) chairman, Samir Kamat, to the defence manufacturing establishments at Nagpur, a fortnight ago. Tripathi, who reached Nagpur on Wednesday, first inspected the BrahMos Aerospace Private Limited (BAPL) unit in the city. This was followed by a visit to Solar Defence and Aerospace Limited (SDAL), which makes ammunition and UAVs, and then JSR Dynamics on Thursday. An air bomb-making unit, the latter is promoted by the former vice-chief of the Indian Air Force (IAF), Air Marshal (retd) Shirish Deo. BAPL, which is a joint venture between India and Russia, has a key unit at Nagpur apart from Hyderabad. The propulsion systems of BrahMos missiles are supplied by SDAL, which is also making the Pinaka rockets for the armed forces, apart from Nagastra loitering munition and other types of ammunition. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like 5 Books Warren Buffett Wants You to Read In 2025 Blinkist: Warren Buffett's Reading List Undo Nagastra was used in Operation Sindoor. It was learnt the naval chief wanted to inspect the manufacturing facilities in the country, especially for making long-range missiles that can be fired beyond 400 km. Several variants for drones and even anti-drone mechanisms are being considered, said sources. JSR Dynamics, which is the youngest among the three entities visited by Admiral Tripathi, is into development of air-launched glide weapons, miniature ground launch decoys, loitering munitions, long-range guided munitions, and rocket launch systems of different types. Nagpur has emerged as a hub of ammunition manufacturing. Apart from defence PSUs carved out of ordnance factories, which have seen a major increase in its order book, even private sector industries have checked in to make high-calibre ammunition. Follow more information on Air India plane crash in Ahmedabad here . Get real-time live updates on rescue operations and check full list of passengers onboard AI 171 .
