Earlier this month, the Reserve Bank of India dissolved
the MSCB due to bad debt.
Based on a private criminal complaint filed by the
managing director of Koregaon-based Jarandeshwar Cooperative Sugar Factory in
Satara district, judicial magistrate first class of Koregaon K.G. Paldewar on
Friday initiated legal proceedings against Ajit Pawar, Patil, and others.
In the complaint filed in the court by Balakrishna Anand
Ghadge, the managing director of the sugar factory, the complainant claimed
that Pawar and the other former directors of the MSCB had forged the sale deed
of the Jarandeshwar Cooperative Sugar Factory and claimed that the government
had valued the property and its adjoining land at INR40.84 crore before it was
put up for auction by the MSCB.
The complainant told the court that the board of
directors of the MSCB accepted the bid by Guru Commodity, a Mumbai-based
company, for INR65.75 crore. "It is mandatory for the buyer to deposit 75
percent of the amount within 15 days, but Guru Commodity failed to deposit the
money even after 90 days of the deal. Despite this, the MSCB board of directors
issued a sale deed on November 23, last year in favor of the company."
Ghadge,
the complainant, further alleged in the complaint that a revised sale deed to
the tune of INR18 core was signed before the registrar of companies in Karad in
Satara district on May 13 this year. Guru Commodity has a turnover of just
INR63 lakh and a annual profit of INR6 lakh. Despite this, the MSCB gave INR56
crore loan to the company. On March 31, this year, the MSCB showed that the
company had paid INR18.16 crore, when INR13.10 crore were paid by the MSCB and
INR5.6 crore by the Jarandeshwar Sugar Factory," Ghadge claimed.
