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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

Public representatives have high confidence in Shinde’s work, Uddhav Thackeray MPs did not have confidence in his leadership: Milind Deora

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Shiv Sena leader and Rajya Sabha MP Milind Deora strongly criticised the absence of several MPs from the Uddhav Thackeray faction meeting. He said that only the UBT leadership can answer why UBT MPs did not attend the meeting called by his party. He said that the members who were absent from the meeting lacked faith in their party leadership. Deora said that today the people and public representatives have faith in the work and leadership of Chief Minister Eknath Shinde. Eknath Shinde sahib works to strengthen the hands of those who trust in Shinde sahib’s leadership. Targeting Sanjay Raut, Milind Deora said that he is not aware of parliamentary traditions and rules. Other UBT MPs should understand what kind of meetings are held and what are the whip rules. On the issue of whip, Deora said that whip is issued only for voting in the House, not for attending any political meeting. This is a parliamentary rule and those who have been members for years should be aware of it. Milind Deora further said that Sanjay Raut sometimes abuses his own MPs, sometimes claims that all MPs are with him, sometimes says that his MPs were given money, and sometimes accuses MPs of corruption. This reflects his contradictory behavior. Sanjay Raut insulted his own MPs. With such behavior, who would want to work with him? He said that no leader has any faith left in the UBT leadership. Public representatives want their leader to be available to them. That is why many leaders still want to work under the leadership of Eknath Shinde. Shiv Sena welcomes anyone who wants to work for the development of their area. Our aim is not to weaken anyone but to strengthen the people. Finally, Deora said that the UBT leadership needs to examine itself instead of blaming others. I can only wish them well.

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Maharashtra

Mumbai Municipal Corporation and Customs Department sign MoU for conservation and restoration of Mahim Fort

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The vision of the conservation and restoration of the Mumbai Mahim Fort is to revive its historical beauty. Municipal Commissioner Ashwini Bhide said that it is a matter of pride and honour that the Municipal Corporation is preserving this fort. An MoU was signed between the Mumbai Municipal Corporation and the Customs Department today (June 18, 2026) at the Mumbai Municipal Corporation Headquarters for the conservation and restoration work of Mahim Fort, which has been declared a State Protected Monument.

Additional Municipal Commissioner (City) Dr. Ashwini Joshi, Principal Commissioner of Customs Department Shri Ajay Kumar Pandey, Additional Commissioner of Customs Department Nitin Tagde, Vikram Phadke, Deputy Commissioner (Commissioner Office) of Mumbai Municipal Corporation Prashant Gaikwad, Deputy Commissioner (South Zone) Prashant Gaikwad, Assistant Commissioner (South Zone) Prashant Gaikwad were also present on the occasion. Yogesh Desai, Advisor on Conservation of Ancient Heritage Vikas Dilawari, Dr. K. K. Sangle, Head of the Department of Structural Engineering, Virmata Jijabai Institute of Technology, etc. were present on the occasion.

As per the directions of Municipal Commissioner Ashwini Bhide, the conservation and preservation of ancient structures in Mumbai is being done under the guidance of Additional Municipal Commissioner (City) Dr. Ashwini Joshi. On this basis, the Municipal Corporation has taken the initiative to conserve and revive the Mahim Fort.

Under this agreement, the dilapidated structure of Mahim Fort will be strengthened and reconstructed. The historical well present in the fort area will be searched and excavated. A pedestrian path will be made all around the interior of the fort. In addition, a protective wall will also be constructed to protect the foundation of the fort. Rs 20 crore has also been allocated for this. Municipal Commissioner Ashwini Bhide said that the Municipal Corporation’s G (North) Department has removed the encroachments on the Mahim Fort and rehabilitated the local residents. So now help will be given to restore the glory of this fort. Additional Municipal Commissioner (City) Dr. Ashwini Joshi said that the Municipal Corporation has made great efforts to remove the encroachments on the Mahim Fort, which is a historical and ancient heritage, and to preserve it. Now the administration is planning to develop this fort as a tourist destination.

Principal Commissioner of the Customs Department Ajay Kumar Pandey said that apart from being a historical heritage, Mahim Fort is known as the customs station of the Customs Department. The conservation and restoration work undertaken by the Municipal Corporation will make this fort famous. Also, this fort will develop as a tourist destination for Mumbaikars. Mahim is an ancient fort and the descendants of Raja Bimbadev built this fort around the 12th and 13th centuries. Mahim was the main centre of power among the seven islands of Mumbai and this fort is a symbol of that glorious history. The Maharashtra government declared Mahim Fort as a state protected monument in 1975. The total area of ​​the fort is about 3,796.02 sq m. Currently, the fort is under the jurisdiction of the Customs Department. The existing structure of Mahim Fort was encroached upon in the form of slums. After surveying the entire area, proper documents were verified and 275 slums have been rehabilitated in flats available for project victims in Kurla and Malad. However, the restoration of a religious structure is underway.
The restoration and conservation work of the fort is proposed to be carried out under the guidance of the Mumbai Municipal Corporation’s G (North) Division Office, Customs Department, Advisor on Conservation of Ancient Cultural Heritage Vikas Dilawari and Dr. Sangal K. Jijabai, Head of the Structural Engineering Department of Veermata.

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Maharashtra

Operation Tiger rebel MPs in Maharashtra should be disqualified: Abu Asim Azmi

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Mumbai: Talking about the ongoing Operation Tiger of Shiv Sena in Maharashtra, Samajwadi Party Mumbai/Maharashtra state president and MLA Abu Asim Azmi said, “Today’s public representatives, leaders, and workers are no longer guided by ideology, they have become greedy. Those who take the votes of the people and then change parties of their own accord, their positions should be declared null and void.” Abu Asim Azmi further said that if someone contests elections on behalf of a party, he is provided with the party’s flag, banner, symbol and money. Workers are working day and night to ensure the victory of their candidate. Those representatives are elected on the basis of the party’s ideology, and people agree with this ideology, so they vote for them. However, after victory, they rebel against the party. A law should be made that if a candidate joins another party after winning, his position should be declared null and void. Taking a dig at the BJP, he said that the BJP is trying to lure, intimidate and It misuses power to intimidate and bring them into its party. If they do not join, they are sent to jail like Kejriwal and Sanjay Singh, but they were proven innocent. The BJP has tried to create a rift in other parties, which is why many parties have been split into two.

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