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HomeUncategorizedMSCB scam: ED officials scrutinise documents of 2 more auctioned sugar mills

MSCB scam: ED officials scrutinise documents of 2 more auctioned sugar mills

The Enforcement Directorate is scrutinising the documents and transactions of two more sugar mills that were auctioned by the Maharashtra State Cooperative Bank, according to sources.

he Enforcement Directorate (ED), as part of its investigation into the Maharashtra State Cooperative Bank (MSCB) scam, is scrutinising the documents and transactions of two more sugar mills which were auctioned by MSCB and district cooperative banks, according to sources.

Last month, the central agency had attached Jarandeshwar Cooperative Sugar Mill in Satara district of Maharashtra. This mill is linked to Maharashtra Deputy Chief Minister Ajit Pawar and his wife Sunetra.

The two mills which ED officials are presently scrutinising are Ambadevi Sahakari Sakhar Karkhana and Pushpandateshwar Sugar Mill in Maharashtra. While the former is located in Amravati district, the latter is in Nandurbar district.

Ambadevi Sahakari Sakhar Karkhana was sold via auction to a firm called Kinetic Petroleum Pvt Ltd for Rs 15.25 crores. This amount is Rs 8 crore less than the reserve price according to the petitioners who approached the court against the auction process.

As for Pushpandateshwar Sugar Mill, it was sold for Rs 28 crore to a firm named Astoria Ltd in an auction. According to the petitioners, the value of the mill and vacant plot is more than Rs 75 crore. The registered office of Astoria Ltd, as per official records, is in Baramati.

WHAT IS THE MSCB SCAM?

Several people had approached the court citing irregularities in the auction process of sugar mills across Maharashtra. The sugar mills had been auctioned by MSCB and other cooperative banks. It was alleged that they were sold at undervalued prices and without following due process. A case was accordingly filed with the Mumbai police.

Later, the ED registered a case and started its investigation. The directors of various mills have recorded their statements with the agency. More people associated with the cooperative banks and sugar mills will be questioned by the central agency soon.

MSCB scam: ED officials scrutinise documents of 2 more auctioned sugar mills  India Today

The above news was originally posted on www.indiatoday.in

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