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After ED books him, NCP’s Sharad Pawar says ‘never been to jail, will be pleased to go’
The Enforcement Directorate registered a money laundering case against Sharad Pawar, his nephew Ajit Pawar and several other politicians and officials in the Maharashtra State Cooperative Bank (MSCB) scam worth around Rs 25,000 crore.
Veteran leader Sharad Pawar of the Nationalist Congress Party (NCP) on Wednesday said he would ‘be pleased’ if sent to jail, a day after the Enforcement Directorate (ED) registered a money laundering case against him, his nephew Ajit Pawar and several other politicians and officials in the Maharashtra State Cooperative Bank (MSCB) scam worth around Rs 25,000 crore.
“Case has been registered. I’ve no problem if I’ve to go to jail. I’ll be pleased as I’ve never had this experience. If someone plans to send me to jail, I welcome it,” the 78-year-old Maratha politician said, reports ANI.
The case comes just weeks ahead of the elections to 288-member Maharashtra assembly and after the Bombay High Court ordered the Economic Offences Wing (EOW) of the Mumbai Police to probe and file cases against the Pawars and others in the matter.
Earlier this month, Ajit Pawar and others had moved the Supreme Court to quash the proceedings in the matter, but Justices Arun Mishra and MR Shah had declined the plea and instead asked the Mumbai Police to conduct a free and fair probe.
The ED said several irregularities were detected in loans provided to the cooperative sugar factories (CSFs) by the MSCB officials who were allegedly connected to the owners of the factories. The loans were sanctioned to factories despite weak financials, negative net worth. Even collaterals were not taken in many cases and additional facilities extended without any justification, the probe agency said.
The National Bank for Agriculture and Rural Development (NABARD) had also inspected and audited the MSCB. It also spoke of various banking and Reserve Bank of India (RBI) rules being flouted in the distribution of loans to sugar factories and spinning mills, and the subsequent defaults on repayments and recoveries of the dues.
“There was huge misappropriation of funds on the part of committee members, directors and loan committee members of MSCB, acting in connivance to siphon off the money and causing huge losses to the bank,” said the ED.
