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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

Maharashtra: Abu Asim Azmi presents bill in the House against religious hatred and blasphemy, application of MCOCA and UAPA also included in the draft bill

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Mumbai: Nagpur Samajwadi Party leader and MLA Abu Asim Azmi presented a private bill in the Maharashtra Legislative Assembly against those who spread blasphemy and religious hatred. The bill demands action against hate elements and calls for action under MCOCA and UAPA against those who spread religious hatred, in addition to ten years of imprisonment and a bail of Rs 2 lakh so that sectarians do not get bail and such cases of spreading religious hatred are banned. He told the House that there has been an increase in cases of blasphemy in the country and in such a situation, tension arises in the country. Action should be taken against such elements to maintain law and order. This will be possible only when action is taken against such sectarians who promote a hate agenda under the guise of freedom of expression. He said that the Supreme Court had also issued an order for strict action against hate elements and miscreants and has banned inflammatory and hate speech. In such a situation, Maharashtra The bill has been formally introduced in the House to take action against those who spread religious hatred and incite hatred against important people. The draft bill proposes to register a case against communalists under the section of the MCOCA UAPA, which carries a maximum sentence of ten years, so that such elements cannot be granted bail.

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Maharashtra

Mumbai fuel theft gang busted, 13 accused arreste, The gang of thieves had attempted to steal fuel in November

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Mumbai: Police claims to have busted a petrol theft gang. The accused were arrested for attempting to steal petrol from BPCL company on November 14 at around 3:30 am under the limits of RCF police station in Mumbai. A complaint was registered for attempting to steal fuel from the underground 18-inch Mumbai Manmade Multi-Product pipeline on Mumbai Gadkari Road. Vinod Devchand Pandit was arrested from Chembur on November 17 on the basis of technical investigation and information from an informant. His investigation revealed that the mastermind of this racket, Riaz Ahmed Ayub (59), Salim Mohammad Ali, Vinod Devchand Pandit had hatched a plan to steal fuel. 13 accused including Gopal Narayan, Mohammad Irfan, Vinay Shashikant, Ahmed Khan Juman Khan, Nishan Jagdish, Mustafa Manzoor, Nasir Shaukat, Imtiaz Asif have been arrested. All these accused have been arrested from various areas. Their arrests were made from Mumbai, Navi Mumbai and surrounding areas. This operation was carried out by Additional Commissioner Mahesh Patil and DCP Sameer Sheikh on the instructions of Mumbai Police Commissioner Deven Bharti.

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Maharashtra

Vasai-Virar Faces 50,000 Duplicate Entries In Voter Roll; Voters Asked To Choose Single Booth

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Virar: More than 50,000 duplicate voters have been found in the Vasai-Virar city area. The Municipal Corporation has published a list of these voters on its website. The Corporation has appealed to those whose names appear in duplicate to visit and vote at any one polling center of their choice and inform the Corporation of their decision in advance.

More than 50,000 duplicate voters were found in the draft voter lists published by the Vasai-Virar Municipal Corporation. This large number of duplicate entries has created a major conundrum. To resolve this issue, the Election Commission has allowed voters with duplicate names to cast their vote at any single designated polling center.

Accordingly, the Vasai-Virar Municipal Corporation has published the list of 50,000 duplicate voters on the municipal website. Municipal Commissioner Manoj Kumar Suryawanshi has appealed to these voters to check their names, select one polling center, and vote there.

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