The management of Koregaon-based Gerandeshwar Sugar Factory in Satara on Monday filed a criminal complaint against 48 erstwhile directors, including deputy chief minister Ajit Pawar, of the Maharashtra State Cooperative Bank (MSCB).
The management of Koregaon-based Gerandeshwar Sugar Factory in Satara on Monday filed a criminal complaint against 48 erstwhile directors, including deputy chief minister Ajit Pawar, of the Maharashtra State Cooperative Bank (MSCB).
The criminal complaint was filed by the factory’s managing director Balkrishna Ghadge at the court of Koregaon’s first class judicial magistrate KG Paldewar. “The court would issue notices to these 48 erstwhile directors of the MSCB on May 27,” said Ghadge’s advocate Raje Bhosale. Ghadge alleged that Pawar and the 47 other directors had forged the sale deed for the sale of the Gerandeshwar Sugar Factory.
These directors were on the board of the MSCB, which was dissolved by the Reserve Bank of India (RBI) earlier this month because of its accumulated bad debts.
The complaint was filed under sections 409, 411, 420, 472, 475, 478 and 471 of the Indian Penal Code (IPC). These sections deal with forgery, abetting forgery, criminal breach of trust and cheating.
Ghadge raised the issue of the sale of the sugar factory and 213 acres of land attached to it in 2010. As per the complainant, the government had valued the property and its adjoining land at Rs4,084 crore. The factory was auctioned after its liquidation by the then board of directors of the bank.
In the ensuing auction, the board of directors, alleged Ghadge, it was decided by the MSCB board that the factory will be sold to M/s Guru Commodity, a Mumbai-based company, for the paltry amount of Rs65 crore.
Ghadge alleged that money was not deposited with the bank even 90 days after the sale. However, the board of directors issued a sale deed on October 22 last year in favour of the Mumbai-based company.
Ghadge alleged that a revised sale deed, to the tune of Rs18 crore, was signed before the registrar of companies in Karad on May 13 this year. The complaint alleged that the board of directors was part of this forgery. Pawar could not be contacted for his comments on the allegations made by Ghadge.
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