The ED has issued an interim order under relevant sections of the Prevention of Money Laundering Act (PMLA) for attachment of land, building, structure, plant and machinery of Jarandeshwar Sahakari Sugar Factory (Jarandeshwar SSK) located at Chimangaon-Koregaon in Satara district, the ED said. The probe agency said it is a property worth Rs 65.75 crore and this was its purchase price in 2010.
“The property is presently in the name of Guru Commodity Services Pvt Ltd (an alleged fake company) and has been given on lease to Jarandeshwar SSK,” the ED said. Sparkling Soil Pvt Ltd has a majority stake in Jarandeshwar Sugar Mills. Investigation has revealed that the previous company is related to a company linked to Maharashtra Deputy Chief Minister Ajit Pawar and his wife Sunetra Ajit Pawar.
This PMLA case is based on an FIR registered in 2019 by the Economic Offenses Wing (EOW) of Mumbai Police. It was alleged in that FIR that SSK was wrongly sold by the then officers and directors of MSCB to their relatives at throwaway prices and while doing so, the procedure prescribed under SARFAESI Act was not followed. The EOW had registered the FIR on the directions of the Bombay High Court.
Under the provisions of the Securitization and Reconstruction of Financial Assets and Enforcement of Securities Interests Act (SARFAESI), banks can sell immovable properties to recover their debt.
The ED said, “Ajit Pawar was an important and effective member of the Board of Directors of MSCB at that time. SSK was bought by Guru Commodity Services Pvt Ltd which was immediately leased out to Jarandeshwar Sugar Mills Pvt Ltd and this company is currently running Jarandeshwar SSK.”
The central probe agency said a major chunk of the money involved in buying SSK came from Jarandeshwar Sugar Mills Pvt Ltd and the company had brought this amount from Sparkling Soil Pvt Ltd. Sparkling Soil Pvt Ltd is related to Ajit Pawar and his wife.
