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Mumbai News: ED Searches 9 Premises Linked To NCP Leader, Sharad Pawar’s Close Aide In Connection With Money Laundering Case

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Mumbai: The Enforcement Directorate conducted searches on Thursday and Friday at nine locations, encompassing both official and residential premises of three Jalgaon-based jewellery firms. The promoters and directors of these firms were subjected to these searches in connection with three instances of bank fraud.

These cases involve Ishwarlal Jain, a former Rajya Sabha member and a close associate of Sharad Pawar. Ishwarlal Jain also held the position of the former treasurer of the party. The searches were carried out by the Enforcement Directorate across multiple locations, including Jalgaon, Mumbai, Thane, Aurangabad, Nagpur, and a few others.

ED searches were based on Money Laundering Investigation related to an alleged bank fraud case that caused a total loss of Rs.353 crore to the state Bank of India.

Details On The Case

The current ED search is rooted in an FIR registered by the CBI in 2022 against a jewellery firm associated with Ishwarlal Jain and others. This FIR was prompted by complaints lodged by the State Bank of India. The SBI alleged irregularities in the transactions involving three accused firms: Rajmal Lakhichand Jewellers Pvt Ltd, Manraj Jewellers Pvt Ltd and RL Gold Pvt Ltd. These irregularities are related to transactions with the SBI, spanning the period from 2002 to 2014.

Their promoters, directors and guarantors –Ishwarlal Shaankarala Jain Lalwani, Manish Ishwarlal Jain Lalwani, Pushadevi Ishwarlal Jain Lalwani and Neekita Manish Jain Lalwani who were named as accused in CBI complaint. According to SBI complain to CBI, Rajmal Lakhichand Jewellers caused a loss of Rs 206.73 crore to the bank, RL Gold Caused a Rs 68.19 crore loss and Manraj Jewellers a Rs 76.57 Crore loss.

ED sources reported the seizure of important documents and digital evidence during the search related to the bank fraud. In December 2022, the CBI registered the FIR and also conducted a raid on the jewellery firm at that time, recovering numerous pieces of paper relevant to the bank fraud.

Ishwarlal Jain: Senior Pawar’s Close Aide In NCP

Ishwarlal Jain Lalwani was a prominent leader of the NCP party and was known to have a close association with Sharad Pawar. According to the registered FIR, the three accused companies allegedly sold goods worth Rs. 10,187 crore to a partnership firm during 2010-11 to 2017-18 and bought goods worth Rs. 9,925 crore. despite request from forensic audits, the financials of the company Rajmal Lakhichand were not allegedly provided by the promoters. The bank had alleged that the accused had colluded and committed illegal activities, including forgery by manipulation and submission of fake financial statements and fabrication of factitious transactions.

The entire case pertains to the default of the loan. The bank alleged in the complaint that the mortgaged assets had been sold without seeking its permission which resulted in the loss of security against the loan granted and that the recovery of loans got seriously jeopardised.

The bank also alleged that the accused firms availed the credit facility from SBI but misappropriate their process by their process by diverting them for non-sectioned purpose.the loan accounts had turned into non Performing Assets.

Entertainment

Bigg Boss fame Ajaz Khan polls fewer votes than even NOTA in Versova

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Ajaz Khan, the Bigg Boss fame actor-turned-politician, suffered an embarrassing defeat in the Maharashtra Assembly elections, where he polled just 155 from the Versova constituency. Remarkably, even the NOTA (None of the Above) option has outperformed him, securing 1,298 votes.

Fielded by Chandrashekhar Azad’s Azad Samaj Party (Kanshi Ram), Ajaz Khan failed to translate his social media popularity – a staggering 5.6 million Instagram followers – into votes.

His political debut at the state level appears to have fallen flat, much like his earlier foray into the Lok Sabha elections. Khan had contested from the Mumbai North Central seat during the general elections but failed to make an impact there as well.

The Versova constituency, meanwhile, witnessed a fierce contest between Haroon Khan of the Shiv Sena (UBT) and Bharati Lavekar of the BJP. Haroon Khan, however, won the seat with a margin of over 1,600 votes.

While Ajaz Khan has struggled to breach even the 150-vote mark, the Mahayuti alliance is surging towards a dominant victory across the state, projected to win over 221 seats. In contrast, the Maha Vikas Aghadi (MVA), comprising Congress, Shiv Sena (UBT), and Sharad Pawar’s NCP faction, appears headed for a humiliating defeat.

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Maharashtra

‘This Is Landslide Victory. I Thank My Ladli Behnas And Kisans…’: CM Shinde On Mahayuti’s Massive Win In Maharashtra 

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In a statement to the media, Shinde said, “I thank the voters of Maharashtra. This is a landslide victory. I had said before that Mahayuti will get a thumping victory. I thank all sections of the society. I thank my ladali behnas and kisans. I also thank all the workers of the Mahayuti parties. “

Meanwhile, the Bharatiya Janata Party is likely to hold the Maharashtra Legislative Party meeting on November 25 and the oath-taking ceremony on 26,

A larger meeting of the Yuti alliance is also likely to be held around the same time. 

This comes after the BJP-led Mahayuti alliance in Maharashtra crossed the crucial majority mark, as per the Election Commission data around 11 am. It is securing a lead in 220 seats and is likely heading towards a landslide victory. Celebrations have already begun at the BJP’s Mumbai office.

Shiv Sena MP Shrikant Shinde said, “As we had expected, we have got very good numbers. I thank all the voters who stood behind Mahayuti and gave this landslide victory…”

Shiv Sena leader Naresh Mhaske said, “Maharashtra of government has expressed its faith in Mahayuti. The public is seeing what is happening to Uddhav Thackeray’s Shiv Sena today. The people have stated that Eknath Shinde is the one who is capable of leading Balasaheb Thackeray’s Shiv Sena…By way of their votes, the public has slapped a slipper on the face of Sanjay Raut. I am a Shiv Sena worker and I think that Eknath Shinde should be the chief minister…”

Early trends as per ECI

As per the initial results, the Mahayuti alliance is leading in 220 seats, with the Bharatiya Janata Party (BJP) leading in 128 seats, driving the charge in Maharashtra. The Eknath Shinde-led Shiv Sena (SHS) follows closely with 55 seats. The Nationalist Congress Party (NCP), led by Maharashtra Deputy CM Ajit Pawar, is leading in 35 seats, while the Rashtriya Yuva Swabhiman Party (RSHYVSWBHM) is leading in 2 seats.

Meanwhile, the Maha Vikas Aghadi (MVA) is trailing, with a lead in 51 seats. The Indian National Congress (INC), part of the MVA, is leading in 20 seats. The Shiv Sena (Uddhav Balasaheb Thackeray) leading in 16 seats, and the Nationalist Congress Party – Sharadchandra Pawar (NCP-SP) is leading in 13 seats. The Samajwadi Party (SP) too is in the lead at 2 seats.

In addition, the All India Majlis-E-Ittehadul Muslimeen (AIMIM), Jan Surajya Shakti (JSS), and Peasants And Workers Party of India (PWPI) are all leading in 2 seats each.

Other minor parties, including Swatantra Bharat Paksha (STBP), Indian Secular Largest Assembly of Maharashtra (DISECL), CPI(M), Bahujan Vikas Aaghadi (BVA), and Rajarshi Shahu Vikas Aghadi (RSVA) are leading in 1 seat each. Additionally, 5 independent candidates (IND) are leading in their respective constituencies.

As the Sena-BJP-NCP celebrate all eyes will now be on who will assume the post of CM of the state.

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Maharashtra

Maharashtra Election Results 2024: UBT’s Sanjay Raut Cries Conspiracy, Says ‘This Can’t Be Decision Of People Of State’

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Maharashtra Election Results 2024: UBT's Sanjay Raut Cries Conspiracy, Says 'This Can't Be Decision Of People Of State'

The early trends as of 10:30 AM indicate a landslide victory for the BJP-led Mahayuti government in the Maharashtra Assembly elections. Shiv Sena (UBT) leader and Rajya Sabha MP Sanjay Raut has responded to the early trends showing Maha Vikas Aghadi’s (MVA) massive defeat in Maharashtra.

Speaking to the media amid ongoing counting, Raut said, ‘This cannot be the decision of the people of Maharashtra. We know what the people of Maharashtra want.’

‘From what we are seeing, it seems that something is wrong. This was not the decision of the public. Everyone will understand what is wrong here. What did they (Mahayuti) do that they are getting more than 120 seats? How is it that MVA is not even getting 75 seats in Maharashtra?’ Raut said.

Rejecting the trends, Raut said that his party has faith in the people of Maharashtra. “They have done some ‘gadbad,’ they have stolen some of our seats…This cannot be the public’s decision. Even the public does not agree with these results. Once the results are out, we will talk more. In every election seat, money-counting machines were installed. Is it possible that Shinde gets 60 seats, Ajit Pawar gets 40 seats, and BJP gets 125 seats? The people of this state are not dishonest. We have faith in the people of Maharashtra,” he said.

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