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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.

Maharashtra

Mumbai: Major Fire Breaks Out At Wajid Ali Compound In Saki Naka; Visuals Surface

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Mumbai: A massive fire broke out in early hours of Thursday at the Wajid Ali Compound, located in the India Market area on Khairani Road, Saki Naka in Kurla West. The fire, classified as a Level-III emergency, broke out at approximately 6:00 am and engulfed a large area of scrapped and plastic materials stored in godowns.

Details On The Fire

According to the Mumbai Fire Brigade (MFB), the blaze spread over an area of about 1,000 x 500 sq. feet, impacting the ground floor and a partially constructed first floor of the structure. Ten hose lines were deployed to combat the flames as firefighters worked relentlessly to control the situation. Visuals of the massive blaze have surfaced on the internet.

The MFB declared the incident a Level-III emergency at 7:21 am, escalating response efforts. Resources mobilised included 11 fire engines, 9 jumbo tankers, 11 advanced water tenders and 1 multipurpose water tanker. A team of senior fire officials, including a Deputy Chief Fire Officer, Divisional Fire Officers and Assistant Divisional Fire Officers, were present at the site to oversee operations.

No Injuries Reported So Far

Fortunately, no injuries or casualties have been reported so far. Emergency medical services, including a 108 ambulance, were stationed at the scene as a precautionary measure.

The fire caused substantial damage to the storage facility, which housed a huge quantity of plastic and scrapped materials, but authorities have yet to determine the exact cause of the blaze.

Efforts are ongoing to fully extinguish the fire and assess the extent of the damage. Investigations will be conducted to establish the cause of the incident. Further updates are awaited.

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Maharashtra

Mumbai Weather Today: Light Rains Hit Few Parts Of City; Haze Continues To Blanket Skies

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The Indian Meteorological Department (IMD) predicts that Mumbai will enjoy pleasant weather on December 28, featuring partly cloudy skies all day. Light to moderate rainfall has been noted in several areas of the city; check for more details to plan your day effectively.

Mumbai Weather Today

The temperature will vary from a low of 19 degrees Celsius in the early morning to a high of 32 degrees Celsius in the afternoon. The wind is blowing at a speed of 6 kmph today and the humidity stands at 67%. The sun will come up at 7:10 AM and go down at 6:10 PM, offering around 11 hours of daylight.

Unexpected Rainfall In Mumbai

According to reports, areas such as South Mumbai, Kalyan, Dombivli, Ulhasnagar, and parts of Palghar experienced light to moderate rainfall on Friday night. Light rain was observed in Navi Mumbai at midnight and also during the early morning hours. This might be because of the yellow alert issued in various areas of Maharashtra.

Mumbai Air Quality Today

The Air Quality Index (AQI) shows that Mumbai’s air quality is at 165, which signifies that it is at a poor level. Individuals with respiratory problems are recommended to remain indoors and warned.

Mumbai Weather Forecast

On December 29, the weather in Mumbai is expected to be mostly clear, with temperatures varying from 18 degrees Celsius in the morning to 34 degrees Celsius in the afternoon.

On December 30, the sky will be predominantly clear, featuring a morning temperature of 17 degrees Celsius and a peak of 34 degrees Celsius in the afternoon.

On December 31, the weather is expected to be predominantly clear, with morning temperatures beginning at 16 degrees Celsius and peaking at 33 degrees Celsius throughout the day.

On January 1, the atmosphere will remain predominantly clear, featuring a morning temperature of 16 degrees Celsius and a peak temperature of 33 degrees Celsius during the day.

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Maharashtra

Mumbai: Major Block At Lower Parel On December 27 & 28 For Commissioning Of Electronic Interlocking Panel

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A major Non-Interlocking (NI) block will be taken on the intervening night of 27th and 28th December 2024 at Lower Parel station for the commissioning of the new Electronic Interlocking (EI) panel. The block will be in effect for 5 hours, from 11:30 PM on Friday, 27th December to 4:30 AM on Saturday, 28th December.

During this block, all Slow line trains will be diverted to the Fast lines between Mumbai Central and Mahim stations. As a result, local train services will not be available at  Mahalaxmi, Lower Parel, Prabhadevi, Matunga Road, and Mahim during the block period.

“In addition, some local trains on the UP and DOWN Slow lines will remain cancelled due to the block. Passengers are requested to take note of these arrangements and plan their travel accordingly” said an official.

“The block is being implemented as part of the ongoing modernization work at Lower Parel station, aimed at improving the efficiency and capacity of the suburban railway network” he said.

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