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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 drug racket exposed from MP police station, 4 arrested

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Mumbai: Police Crime Branch has claimed to have busted a drug smuggling gang in Maharashtra from Madhya Pradesh MC and arrested four accused involved in it from MP. All four are accused of running a drug racket in Maharashtra. On November 3, Imran alias Babu Khan (38), Waqas Abdul Rab Khan (30), Taqdeen Rafiq Khan (30), Kamlesh Ajay Chavan (23) from Nowpara were reported to have supplied drugs from Madhya Pradesh and sold them in Maharashtra. After this, the police arrested all four and seized more than one kg of MD, which is said to be worth more than Rs 2 crore, from their possession. This was informed by the DCP Crime Branch Amar Singh Jadhav here. He said that a big drug racket has been busted and there is a possibility of more arrests.

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Maharashtra

Two youths drown in Mumbai’s Mahim creek

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Mumbai: Two people jumped into the Mahim creek in Mumbai, due to which they drowned. The search for them is on. Today at around 12:20 pm, Irshad Asif Sheikh, a transgender, aged 22, residing at Lal Mati, Nargis Dutt Nagar, Bandra (West), Mumbai, and Qalander Altaf Khan, aged 20, residing at Lal Mati, Nargis Dutt Nagar, Bandra (West), were standing between a bridge in Bandra. During this, they had an argument and one jumped into the creek while the other also jumped into the water to save him.

During the argument, Irshad jumped into the water and Qalander Khan jumped after him to save him. However, both drowned in the water.

The search operation is on, so far no trace of both has been found. Teams are searching for both.

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Maharashtra

Sameer Wankhede targeted in The Baddest of Bollywood; Delhi High Court orders removal of objectionable content from controversial series in defamation case

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Mumbai: The Mumbai-Delhi High Court has strongly criticized Red Chillies Entertainment Shah Rukh Khan, Gauri Khan and others in the defamation case against NCB Zonal Director IRS officer Sameer Wankhede and said that artistic freedom does not mean mocking a person. After this, the High Court has ordered that the controversial footage related to Sameer Wankhede be removed from the controversial Netflix series The Bads of Bollywood. Sameer Wankhede had filed a petition in the High Court and pleaded that his character has been killed in The Bads of Bollywood and this series has been made to target him. The purpose is to humiliate and mock Sameer Wankhede. After watching some parts of this series, the High Court has ordered the removal of the controversial parts from the film.

Sameer Wankhede’s lawyer had told the court that the character portrayed in the film is a comparison to Sameer Wankhede and that this series has been created with the intention of tarnishing Wankhede’s image. The Bads of Bollywood is malicious, therefore, the above-mentioned controversial scenes and objectionable dialogues should be deleted from the series, on which the court has issued an order to delete the controversial and objectionable content and content. Earlier, while hearing Sameer Wankhede’s petition, the court had sent notices to Shah Rukh Khan’s Red Chillies, Netflix, Meta, and social media platforms and directed them to file a response. To this, Red Chillies had called the film and series a drama and made it clear that it had nothing to do with the facts. However, despite this, the Delhi High Court inquired whether a film drama does not mean that someone’s character is killed and said this, it reprimanded Shah Rukh Khan and the film company. Sameer Wankhede tried to prove through his argument that the character portrayed in the film resembles Sameer Wankhede and that this character has been portrayed in a negative way to target him and in this, an attempt has been made to make fun of Sameer Wankhede through this character, which has humiliated Wankhede, which the court has accepted and issued a directive to delete the objectionable and controversial content. This is a big success for Sameer Wankhede, while Shah Rukh Khan has suffered a huge setback.

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