Cooperative bank scam: ED may not allow Sharad Pawar in Mumbai office

Enforcement Directorate (ED) is expected to t allow entry to NCP chief Shar Pawar in its Mumbai office when he visits re on Friday to "submit information" related to alleged Rs 25,000-crore scam in a Maharashtra cooperative bank, officials said on Thursday. 

Shar Pawar, an accused in case, h on Wednesday said he will, on his own, visit ED office at 2 pm on September 27 to submit "whatever information" has been sought in connection.

ED officials, however, say that deciding to question any person or accused in a case is prerogative of "investigating officer" and such a decision is taken when re are reasons to do so. Shar Pawar has t been summoned yet, y said, ding he will be called for questioning and recording of statement "whenever it is required".

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ncy, meanwhile, is in process of garing ditional evidence and statements since case was registered in connection with alleged scam at Maharashtra State Cooperative Bank (MSCB).

federal probe ncy, it is understood, has sought ditional police security at its Mumbai zonal office in Ballard Estate in view of Nationalist Congress Party (NCP) chief's public declaration of visiting ir office. 

Mumbai office of ncy, which is probing some high-profile cases of money laundering like those involving Vijay Mallya and Nirav Modi, has separate depositions and or probe-related work scheduled on Friday and ncy officials will require a safe and secure environment to carry out ir work, y said. ncy has also sought certain documents from different ncies like banks that are involved in case.

ED, as part of its complaint filed under Prevention of Money Laundering Act (PMLA), is probing allegations that former top executives, chairmen, MDs, directors, CEOs and manrial staff of MSCB and office-bearers of cooperative sugar factories (CSF) were given loans in an illegitimate manner.

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ncy h filed a PMLA case against NCP chief, his nephew and former Deputy chief minister of state Ajit Pawar and about 70 ors on September 23 to probe alleged irregularities in grant of loans and or processes.

"re were several irregularities in sanctioning of loans committed with only purpose of extending benefits to directors of leing bank for personal gains, reby defrauding and cheating MSCB and its shareholders," ED has said as part of its criminal complaint.

loans, it has said, were sanctioned to CSFs despite having "weak financials and negative net worth."

" collateral was taken in many cases and loans were extended on basis of fraudulent and dishonest representation to bank," ED has stated. 

ED case is based on a Mumbai Police FIR that h named n directors of bank, former deputy chief minister of state Ajit Pawar and 70 former functionaries of cooperative bank.

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Shar Pawar, a former CM of Maharashtra, has been named in ED complaint on basis of police FIR, y said. registration of case came at a time when state is poll-bound and voting is slated to be held on its 288 assembly seats in one phase on October 21.

Mumbai Police FIR

Mumbai Police FIR that was filed in this case in August came about on basis of a similar complaint registered by state ecomic offences wing (EOW).

EOW was asked by Bombay High Court to file a case after a bench of Justices S C Dharmhikari and S K Shinde said re was "credible evidence" against accused in case. As per police FIR, state exchequer allegedly suffered losses to tune of Rs 25,000 crore due to MSCB scam between January 1, 2007, and December 31, 2017.

offence has been registered against n chief ministers, deputy chief ministers, ministers, politicians, government officials, n directors and senior officials of MSCB, district central bank, and directors of Pen Cooperative Bank, according to FIR.

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