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Police move to close Rs 25K-cr MSC Bank scam case involving Ajit Pawar

Source: PTI   -  Edited By: Senjo M R
March 01, 2024 23:42 IST
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The Economic Offences Wing of the Mumbai police on Friday sought to close a case related to an alleged Rs 25,000 crore scam at the Maharashtra State Cooperative Bank in which Maharashtra deputy Chief Minister Ajit Pawar was among the accused.

IMAGE: Prime Minister Narendra Modi releases the 2nd and 3rd instalments of ‘Namo Shetkari MahaSanman Nidhi’ during a public event, in Yavatmal, as Maharashtra Chief Minister Eknath Shinde and deputy CM Ajit Pawar look on, February 28, 2024 . Photograph: ANI Photo

Special public prosecutor Raja Thakre filed a 'C summary' report before RN Rokade, special judge for cases against MPs and MLAs.


The court will hear the matter on March 15.

The court will now decide whether to accept the report or direct the agency to continue the investigation and file a chargesheet.

A 'C summary' report is issued by police when a criminal case is filed due to a mistake of facts, or the offence is of civil nature.

The prosecution had on January 20 filed a second closure report in the case, saying nothing incriminating was found even after a fresh investigation.

The EOW had filed its first closure report in September 2020, and the court had accepted it.

But in October 2022, the EOW informed the special court that it was conducting further investigations based on points raised by the complainants (who had filed a petition opposing closure) and the Enforcement Directorate.

Ajit Pawar joined the Shiv Sena-BJP government in Maharashtra as deputy CM in July 2023 after parting ways with his uncle and Nationalist Congress Party founder Sharad Pawar.

The EOW filed the First Information Report in the case under Indian Penal Code sections 406 (criminal breach of trust) and 420 (cheating), the Prevention of Corruption Act, and Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act following a Bombay High Court order of August 2019.

The case pertained to loans of thousands of crores of rupees obtained by sugar cooperatives, spinning mills and other entities from district and cooperative banks in the state.

The FIR named Ajit Pawar, then a leader of the Sharad Pawar-led NCP, and more than 70 others who were directors of the MSC Bank during the relevant period, as accused.

The state exchequer suffered a loss of Rs 25,000 crore between January 1, 2007, and December 31, 2017, due to irregularities at the bank, the FIR claimed.

Banking and Reserve Bank of India regulations were violated while disbursing loans to sugar mills at very low rates and selling off assets of defaulter businesses at throw-away prices, the EOW then alleged.

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Source: PTI  -  Edited By: Senjo M R© Copyright 2024 PTI. All rights reserved. Republication or redistribution of PTI content, including by framing or similar means, is expressly prohibited without the prior written consent.
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