Mumbai court has granted bail to a leader of the Nationalist Congress Party (NCP) and his father in connection with the Maharashtra State Cooperative Bank (MSCB) scam case. The court took cognisance of two supplementary chargesheets filed by the Enforcement Directorate (ED) and had summoned the accused to appear before it on January 12.
The accused, Prajakt Tanpure, a former minister of the Maha Vikas Aghadi government, and his father, Prasad Tanpure, a former Member of Parliament, appeared before the court and sought bail.
The case involves allegations of a scam in the Sahakari Sakhar Karkhana (SSK), which includes cooperative sugar factories and Sahakari Soot Girnis. The ED’s action stems from an FIR registered by the Mumbai police’s Economic Offences Wing (EOW) under the Indian Penal Code and Prevention of Corruption Act, following an order by the Bombay High Court on August 22, 2019. The alleged fraud revolves around the fraudulent sale of cooperative sugar factories by MSCB officials and directors at significantly lower prices to related entities without adhering to proper procedures.
According to investigations conducted under the Prevention of Money Laundering Act, MSCB auctioned Ram Ganesh Gadkari SSK in 2007, undervaluing it and failing to follow due process. The SSK was then sold to Prasad Sugar and Allied Agro Products Ltd, a firm owned by Prajakt Tanpure for a mere Rs 12.95 crore, well below the reserve price of Rs 26.32 crore.
Although the former minister and others have been named as accused in the chargesheets, they have never been arrested by the probe agency.
The granting of bail to the NCP leader and his father has stirred public interest in the ongoing investigation. The court’s decision opens avenues for further examination of the case and raises questions about the involvement of high-ranking officials in the alleged fraudulent activities surrounding the sale of cooperative sugar factories.
The MSCB scam case has attracted significant attention due to its implications for the cooperative sector and the legitimacy of transactions related to Sahakari Sakhar Karkhana and Sahakari Soot Girnis. It remains to be seen how this case will unfold and whether more arrests or charges will be made as the investigation progresses.
As legal proceedings continue, the public remains eager for justice and transparency in cases of financial fraud and corruption. The outcome of this case will not only have consequences for those involved but will also serve as a benchmark for future actions against similar malpractices in the cooperative sector.
While bail has been granted to the accused NCP leader and his father, the investigation by the ED is ongoing, and the court will closely monitor the developments in this high-profile case. The grant of bail does not absolve the accused of their alleged involvement in the scam, and the legal proceedings will continue to shed light on the intricacies of the MSCB case, ensuring accountability and justice for all parties involved.
