ED inspects locations related to Pawar Kin’s business

ED inspects locations related to Pawar Kin's business

ED inspects locations related to Pawar Kin's business

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In relation to the Maharashtra State Cooperative Bank (MSCB) scandal, the Enforcement Directorate on Friday searched premises that were connected to Baramati Agro which belongs to the NCP MLA Rohit Pawar, who is the grand nephew of NCP chief Sharad Pawar.

The searches continued until Friday night.

Property all over Maharashtra, including Baramati Agro offices and people and organizations connected to the business were being searched. The premises of Samruddhi Sugar Mill, Baramati Agro in Pimpali in Baramati, Hitech Engineering Corporation and locations belonging to Rajesh Ingavle and Sanjay Avan—both connected to Hitech Engineering—were among the locations being searched, according to ED officers.

Allegations of cash diversion and transfer of earnest payments to Hitech, which bid alongside Baramati Agro to acquire the ailing Kannad Sahakari Sakhar Karkhana, are the reason for the money laundering probe into Pawar’s company.

It is purported that Baramati Agro acquired the factory for an undervalued sum of Rs 50 crore, presumably as a consequence of a rigged auction conducted under the MSCB.

The MSCB scandal case concerns loans that were provided to sugar factories by MSCB officials, purportedly without adhering to protocol, even after they became non-performing assets. These loans were then sold to the accused’s relatives for a significantly lower price than their market value.