Mumbai: The Maharashtra State Cooperative Bank (MSCB) has not suffered any loss due to loans given to sugar factories and other institutions, according to a closure report filed by the Mumbai police in connection with the alleged Rs 25,000 crore scam. The police have also given a clean chit to the Shikhar bank saying that there was no wrongdoing by the bank. Deputy Chief Minister Ajit Pawar, his wife Sunetra Pawar nephew Rohit Pawar, and 70 others had been charged in connection. The Pawars have been cleared of any criminal wrongdoings in the matter.
The case pertains to loans worth thousands of crores taken by sugar factories, cotton mills, and other entities from the Shikhar Bank. The Economic Offences Wing (EOW) submitted the report before special court judge Justice R. N. Rokde in March. It was announced on Tuesday.
According to the report, NABARD initiated an investigation into the Shikhar Bank between 2007 and 2011. The bank settlement report was then submitted. In 2013, an inquiry was initiated under the Maharashtra Co-operative Societies Act. The purpose of the inquiry was to conclude the functioning of the bank, its financial condition, and the loss caused by the disbursement of loans. The police report said the report filed before the Commissioner of Cooperatives in January 2014 did not mention anything about the financial loss of the bank.
Another inquiry was appointed by a retired chief district judge in February 2020 after the petitioners objected. The committee, in its report, said the bank did not suffer any loss due to loans given to the factories. The committee also noted in its report that the bank is legally recovering the amount given as loans from the concerned. Apart from the inquiry report, the police also recorded the statements of the bank officials and verified the necessary legal documents. Despite repeated investigations, the police did not find anything and filed a closure report, the police said in the report.
The original complainant Surendra Arora has filed a protest petition in the court against the closure report. The ED has sought the court's permission to mediate in the case.