In a case involving in a case of misappropriation of funds in the Sahityaratna Lokshahir Annabhau Sathe Development Corporation (SLASDC) of the Maharashtra government, a special court in Mumbai has granted bail to former NCP MLA Ramesh Kadam.
Kadam, however, will not be released from jail as he is an accused in another case. He has been in jail since 2015. His bail in the SLASDC case was granted on Friday by special court judge RN Rokade. The order was made available on Saturday.
SLASDC was set up with the objective of providing financial aid for the uplift of backward classes. Kadam was the chairman of the corporation, when he in collusion with other accused, hatched a criminal conspiracy and misappropriated its funds, the prosecution said.
Kadam and other accused created false documents and illegally siphoned off and misappropriated amount to the tune of Rs 3,30,00,000. Based on the information, Parbhani police had registered a case under the Prevention of Corruption Act against Kadam and others. The main case in connection with the scam was registered at the suburban Dahisar police station in 2015.