ED attaches assets worth ₹78.38 crore of Sena leader’s sugar mill 

BL Pune Bureau | | Updated on: Jun 24, 2022
Arjun Khotkar

Arjun Khotkar

Under provisions of the Prevention of Money Laundering, 2002

Amidst the ongoing political crisis in Maharashtra, the Directorate of Enforcement (ED) has provisionally attached the residual plant and machinery , building and more than 200 acres of land belonging to senior Shiv Sena leader Arjun Khotkar at Sawargaon in Jalna district.  Speaking to the media, Khotkar said that everyone in Maharashtra knows what is happening and hence he doesn’t want to comment on the ED’s action. Shiv Sena leaders have been alleging that the Union government is using the ED to put pressure on the leaders of the opposition parties.

The press statement issued by the ED stated the action was taken under the provisions of the Prevention of Money Laundering, 2002 (PMLA) in a case relating to illegal sale of Cooperative Sugar Mills (SSK) in Maharashtra State Co-operative Bank (MSCB) case. The assets of  Jalna Sahakari Sakhar Karkhana Ltd. is currently held in the name of M/s Arjun Sugar Industries Pvt. Ltd.

“ED has initiated investigation under the PMLA, based upon an FIR dated 26.08.2019 registered by Economic Offence Wing, Mumbai Police. The said FIR was registered in pursuance of the Order dated 22.08.2019 of the Hon’ble Bombay High Court. It has been alleged in the said FIR that the cooperative SSKs were fraudulently sold by the then officials and Directors of MSCB at throw-away prices to their relatives/private persons without following the due procedure prescribed under the SARFAESI Act” the press statement added.

“ED investigation revealed the fraudulent mode and manner in which the bidding process was followed for sale of SSK and subsequent distribution of assets of SSK among family-based business entity of member of MSCB indicates sale of SSK and accordingly the properties of said SSK which includes government land of 100 acre, plant, machinery, building and structure which was acquired illegally (now owned by M/s Arjun Sugar Industries Pvt. Ltd) are being proceeds of crime are provisionally attached under PMLA.” the ED press statement added

“It may be mentioned that the said SSK has remained closed from that time. Further investigation is under progress” the ED mentioned in the press note.

Published on June 24, 2022
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