MSCB Scam: ED Attaches Assets Worth Over Rs 65 Cr Of Sugar Mill Linked To Ajit Pawar & Wife

Sparkling Soil Private Limited is a company owned by Maharashtra's Deputy Chief Minister Ajit Pawar and his wife Sunetra Pawar.

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Mumbai: The Enforcement Directorate on Thursday attached assets of Jarandeshwar Sahkari Sugar Karkhana worth over 65 crores in a case related to Maharashtra State Co-operative Bank (MSCB).

The assets, including land, building, structure, plant, and machinery, are held in the name of Guru Commodity Services Private Limited and leased to Jarandeshwar Sugar Mills Private Limited, the major share of which is held by Sparkling Soil Private Limited.

ED attaches properties of M/s Jarandeshwar Sahkari Sugar Karkhana situated at Chimangaon, Koregaon, Satara, Maharashtra worth Rs. 65,75,00,000/ under the provisions of the Prevention of Money Laundering, 2002 in a case related to Maharashtra State Co-operative Bank (MSCB), ANI reported.

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Sparkling Soil Private Limited is a company owned by Maharashtra's Deputy Chief Minister Ajit Pawar and his wife Sunetra Pawar.

Assets held in name of Guru Commodity Services Pvt Ltd and leased to Jarandeshwar Sugar Mills Pvt Ltd. Sparkling Soil Pvt Ltd holds majority shares of Jarandeshwar Sugar Mills Pvt Ltd. Probe revealed Sparkling Soil Pvt Ltd is a related company to Dy CM Ajit Pawar and Sunetra Ajit Pawar, ANI reported the Enforcement Directorate as saying.

The investigations conducted under the Prevention of Money Laundering Act (PMLA) revealed that MSCB conducted an auction of Jarandeshwar SSK in 2010 at an undervalued price and without following due procedure.

Ajit Pawar was one of the prominent members of the Board of Directors of MSCB at the said time.

The major part of the funds utilized towards the purchase of the said SSK was received from Jarandeshwar Sugar Mills Private Limited which received the same from M/s Sparkling Soil Private Limited, a company related to Ajit Pawar and his wife.

The SSK has been used as a vehicle by Jarandeshwar Sugar Mills for obtaining the loan to the tune of Rs. 700 crore (approximately) from Pune District Central Co-operative Bank and others during the period from 2010 till date.

The Enforcement Directorate began the investigation based on an FIR dated August 26, 2019, registered by the Mumbai Police’s Economic Offence Wing under various Sections of the IPC and Prevention Of Corruption Act.