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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

Abu Asim Azmi praised for introducing a bill against hate speeches and hate crimes, Muslim organizations called Abu Asim Azmi’s step commendable.

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Mumbai: Leading Mumbai NGOs like OZ Seva Trust, Minara Masjid Trust, All India Ulema Board, Malik Liaquat Hussain Trust, National Uni-Ayush Activist Trust, Mumbai Central Association etc. today felicitated SP State President Abu Asim Azmi at Islam Gymkhana and appreciated his efforts to maintain unity and brotherhood in the society by respecting all religions in the Maharashtra Assembly. Azmi had introduced a bill in the Nagpur Assembly to enforce strict laws against religious hatred, blasphemy, prophets, religious leaders, and religious places, and hate speeches and hate crimes.

The event was organised at Islam Gymkhana, Mumbai. Addressing the event, Abu Asim Azmi said that nowadays hatred is being spread among the brothers by making objectionable or insulting inflammatory speeches against any religion, religious leader, religious book, religious place, Prophet Muhammad (PBUH). This poses a threat to peace and order. Therefore, we have presented this bill in the Legislative Assembly against those who insult any religion, religious leader, religious book, religious place, or Prophet. This bill proposes a penalty of imprisonment for up to 10 years and a fine of up to Rs 2 lakh for those who make slanderous statements about any religion, religious leader, religious book, or religious place or spread it on social media. Such a punishment will curb hate speech and hate crimes. MLA Raees Shaikh, State Working President Yousuf Abrani, Chief General Secretary Meeraj Siddiqui and Advocate Rizwan Merchant, Maulana Ijaz Kashmiri, Nizamuddin Rain, Naseem Siddiqui, Sarfaraz Arjo were present at the event.

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Maharashtra

A split in Maha Vikas Aghadi before BMC elections, Congress’s slogan is ‘akela Chalo’

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The trumpet of the municipal elections has sounded in the state. Voting for 29 municipal corporations will be held on January 15, while the counting of votes will be held on January 16 and the results will be announced. In this election, everyone’s attention will be focused on the Mumbai Municipal Corporation elections. The Shiv Sena Thackeray group will try to retain power in the Municipal Corporation. While Eknath Shinde’s Shiv Sena and BJP will try to rule the BMC in Mumbai. Negotiations on seat sharing are ongoing in Mahayoti, but the electoral understanding has not been completed yet. However, a major rift has arisen in the Maha Vikas Aghadi before the Mumbai Municipal Corporation elections. The Congress has announced to fight the Mumbai Municipal Corporation elections on its own. Due to which the competition in this election has intensified further.

Congress will fight the elections alone
Congress has announced to fight the Mumbai Municipal Corporation elections on its own. Congress’ Maharashtra in-charge Ramesh Chinnathala is currently on a visit to Maharashtra. After a meeting held in Mumbai today, Ramesh Chinnathala has said that he will fight the upcoming elections on his own. He said that there is a lot of corruption in Mumbai. That is why the Congress has decided to fight the elections alone. We have decided to fight against the BJP and the Shiv Sena Thackeray group. True patriots and secular people should support us in this fight. After coming to power, we will resolve the issues of the Mumbai Municipal Corporation in a good way. Therefore, I appeal to the voters to support us and we will develop Mumbai.

Mumbai Municipal Corporation Elections
The State Election Commission had announced the Mumbai Municipal Corporation elections in a press conference on December 15. According to this announcement, candidates will be able to file their applications from December 23 to December 30, 2025. The Election Commission will scrutinize the applications on December 31. Candidates can withdraw their applications till January 2, 2026. Voting for the Mumbai Municipal Corporation elections will be held on January 5. The voting will be held on January 16, 2026 and the results will be declared on the same day.

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Maharashtra

After Babri, it’s Kashi Mathura’s turn. Baba Bageshwar Dham’s provocation in Mumbai.

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Mumbai: After the Babri Masjid, now it is Kashi Mathura’s turn, the slogan and provocation has been given by Dhirendra Shastri Bageshwar Dham Baba here in Mumbai. While answering the question of journalists in Andheri, Bageshwar Dham said that the temple is ours and we cannot give it up. When Baba was asked that the dispute had ended after the Babri Masjid, then why is the process of finding temples in mosques going on, to which he said that there are temples in many places and the dispute here is old. On Hindu Rashtra, Bageshwar Dham made it clear that there is also room for Muslims in Hindu Rashtra, his aim is to strengthen Sanatan, while a pilgrimage for Hindu Rashtra will start in Maharashtra to promote Hindutva. He said that it is wrong to declare India a secular country because India has never been secular. He said that there is a need for brotherhood and unity in this country and for that he goes on pilgrimage. Baba, while spewing venom, said that if efforts are not made for Hindu Rashtra and Hindus are not united, then the time is not far when the invasion of India will take place. He said that highly educated doctors in the country are becoming terrorists. If there is a Hindu Rashtra, then a Muslim youth will become Abdul Kalam. Will the mayor of Mumbai be a Muslim or a Hindu? On this, Bageshwar Dham said that he is away from politics, so a candidate should be selected who is useful for the people.

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