MSC Bank scam: Statement of prime witness naming Sharad Pawar accessed

Nationalist Congress Party (NCP) chief Shar Pawar called it a political witchhunt when Enforcement Directorate (ED) named him as an accused in Rs 25,000 crore Maharashtra State Cooperative Bank (MSC Bank) scam case. ECIR (equivalent to FIR) was registered after Mumbai Police EOW (Ecomic Offences Wing) filed an FIR, making it a predicate offence for ED. Top sources in ED confirmed to Republic TV that Pawar senior was named by witness in case paving way for ncy to name him as an accused. Republic TV has w accessed 67-p statement of witness. ED has heavily relied on statement to register an ECIR in this case. 

Shar Pawar named by witness on p 11 of statement.

P 11, point number 10 of statement res:

“ n Sugar Commissioners and n state government, more particularly co-operative minister, members of Mantri Samiti responsible for taking decisions with regards to setting up of new Cooperative Sugar Factories (CSFs) and proper manment of CSFs, h failed to take action against erring manments.”

“This mismanment was t invertent but pre-planned and schemed, as persons in state government, persons at helm of affairs of financial institutions and persons on Board of Directors of CSFs were same people, all set to tear apart cooperative sector to fill ir treasuries, under implicit direction of Shri Shar Pawar, who was holding reigns of all pillars of cooperative sector in Maharashtra.”

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Ajit Pawar named

“ directors of MSC Bank have misused ir position and power and acted hand in gloves with each or in order to dupe money of bank by giving loans to ir near and dear ones, without securing any charge over properties of borrowing units.”

witness also alleged that private companies were illegally given loans without securing any charge at subsidized interest rates, whose loans were restructured, solely because some of directors of board h financial or personal interest.”

It is important to te that Ajit Pawar was one of directors in bank. 

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What is MSC Bank scam case?

Rs 25,000 crore scam involves allegations that n top executives i.e. chairman, MDs, directors, CEOs, manrial staff of Maharashtra State Cooperative Bank (MSC) and office bearers and directors of Shakhar Karkhanas (cooperative sugar factories), Soot Girnis and or processing units were given loans in a fraudulent manner by MSC bank. It has been alleged that in process of loan sanctions, several illegalities were committed. 

As per probe ncy, loans were provided to cooperative bank sugar factories by officials of MSC bank who have connections with owners of sugar factories. In process, several irregularities in sanctioning of loans came into light, only with purpose of extending benefits to directors of lending bank, for personal gains reby defrauding in cheating bank and its shareholders. 

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