ED searches office of Shiv Sena leader Anandrao Adsul

The ED, which had summoned him to appear before them, intended to bring Shiv Sena leader Anandrao Adsul in for questioning over misappropriation of funds in City Co-operative Bank, which he headed

The Enforcement Directorate (ED) on Monday carried out searches on the office premises and visited Kandivli residence of former Shiv Sena member of Parlaiment (MP) Anandrao Adsul on Monday. The central agency, which had summoned him to appear before them, intended to bring him in for questioning over misappropriation of funds in City Co-operative Bank, which he headed. However, the Sena leader complained of chest pain and was rushed to a suburban hospital.

ED suspects that Shiv Sena leader Anandrao Adsul has received some benefits from the misappropriation of funds in connection with the alleged fraud at City Co-operative Bank.

ED suspects that Adsul has received some benefits from the misappropriation of funds in connection with the alleged fraud at City Co-operative Bank. And in connection with the same the central anti-money laundering agency wish to grill the Sena leader, who was the chairperson of the bank.

ED’s Prevention of Money Laundering Act (PMLA) case is based on the FIR registered by the Mumbai Police economic offences wing (EOW) last year. Interestingly, Adsul is the complainant in this case. The EOW had then booked several auditors, valuers and employees of the City Co-operative bank for allegedly causing a loss of ₹98 crore to the bank by granting loans in an unruly and illegal manner.

The accused did not properly calculate the value of mortgaged property for loan, in a few cases, even nothing was mortgaged against the loan. There are 56 applicants who, had received loans but failed to repay it. One of the shareholders of this bank had earlier claimed that the amount of fraudulently sanctioned loan is over ₹2,500 crore, but police’s preliminary probe found that ₹98 crore worth loans were sanctioned illegally. The EOW still awaiting a report from the forensic auditor to present their findings. ED is trying to collect more evidence and documents to prove the allegations that Adsul benefitted from the said illegal loan.

Adsul becomes the fourth Sena leader after Sena member of Legislative Assembly (MLA) Pratap Sarnaik, transport minister Anil Parab, MP Bhavana Gawali to get ED notice or face action from the Central agency. Senior Sena leader Sanjay Raut’s wife too had got a notice from ED in the past.

Shiv Sena, meanwhile, said that ED against Sena leaders has become a routine. Sena chief spokesperson Arvind Sawant said that the action from ED is not final, and the courts decide whether a person is guilty of any wrongdoing or not. Sawant while speaking to media persons, “Summons are a daily thing from ED. But those who are levelling allegations, are they saints?... Is Adsul the only person involved in the bank? This is nothing but defaming Shiv Sena and its leaders.” The south Mumbai MP further said, “ED is not the courts. There are courts still in this country by the grace of God. This has been happening only to gain power; defame the government to topple it.”