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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 Weather Update: City Wakes Up To Clear Skies, Mild Breeze; Overall AQI Stays In Moderate Range At 78

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Mumbai: After weeks of unsettled weather and intermittent showers, the city finally woke up to clear skies and crisp air on Thursday, marking what appears to be the end of the monsoon season. For the past two days, no rainfall was recorded across Mumbai, signalling that the retreating monsoon clouds have made way for the onset of post-monsoon conditions.

According to the India Meteorological Department (IMD), the city is expected to experience clear skies through the day, with only a minimal chance of isolated light showers or thunderstorms in select pockets. Daytime temperatures are likely to hover around 33°C, while the minimum will settle near 23°C, conditions described as pleasant and comfortable for early November.

The recent spell of short but intense showers had not only brought temporary relief from humidity but also helped wash out accumulated pollutants, leading to an overall improvement in air quality. Prior to this, the withdrawal of monsoon winds had caused a spike in pollution levels due to stagnant air and increased vehicular emissions, resulting in a hazy skyline and reduced visibility.

Fresh data released by AQI.in on Thursday morning reflected this improvement. Mumbai’s overall Air Quality Index (AQI) stood at 78, placing it in the moderate category. While the figure marks a slight dip from the good air quality recorded earlier in the week, it still represents a substantial improvement compared to the smog-filled conditions observed after monsoon withdrawal.

Residents across various parts of the city reported clearer skylines and visibly better air. Among the city’s monitoring stations, Wadala Truck Terminal recorded the highest AQI reading at 92, followed by Parel-Bhoiwada (90) and Mulund West (88). Santacruz East and Bhandup West both registered an AQI of 87, keeping them within the moderate range.

Cleaner air was observed in several western suburbs, where Kandivali East recorded an AQI of 45, falling in the good category. Malad West (59), Powai (62), Jogeshwari (65), and Borivali East (67) were all categorised as moderate, suggesting a consistent improvement across the city’s landscape.

As per AQI.in’s classification, an index between 0–50 is considered “Good,” 51–100 “Moderate,” 101–150 “Poor,” 151–200 “Unhealthy,” and anything above 200 is deemed “Severe” or “Hazardous.”

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Maharashtra

Anti-Narcotics Cell ANC arrests drug dealer Akbar Khao in major operation

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Mumbai: Anti-Narcotics Cell ANC Ghatkopar has claimed to have arrested drug dealer Mohammad Shafi Sheikh alias Akbar Khao on charges of drug trafficking. MCOCA was applied to him in the police station for drug trafficking and he was released on bail. Despite this, he used to supply drugs. ANC had arrested an accused in a drug case. During his investigation, it was revealed that Akbar Khao was a fugitive in this case. His details were known and clues were found. He is hiding in Odisha, after which the police arrested him from Raj Gangapur Sundergarh. A total of 15 cases have been registered against Akbar Khao, including NDPS Act and various crimes. Two NDPS Act cases are registered in VB Nagar. ANC has 2 NDPS drug trafficking cases, a total of 18 cases have been registered. The ANC has arrested two accused in this case and also seized drugs worth Rs 12 crore. This operation was carried out by ANC DCP Nunath Dhole on the instructions of Mumbai Police Commissioner Deven Bharti.

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Maharashtra

State ready for Zilla Parishad and Gram Panchayat Mahayuti elections: Chief Minister Fadnavis

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In the Zilla Parishad and Gram Panchayat elections in Mumbai state, Mahayuti will contest the election as a united front and even where there is no electoral consensus in Mahayuti, there will be a friendly contest and it is hoped that the people of the state will trust Mahayuti in these elections. This claim has been made by Maharashtra Chief Minister Devendra Fadnavis. No formula for the distribution of seats in Mahayuti has been decided so far for the local body elections. However, where the alliance party and the BJP are strong, a formula for a solo contest has been decided, just like the talk of Eknath Shinde in Thana and BJP’s solo contest in Pune is common.

Fadnavis criticized Uddhav Thackeray and said that it is his job to insult him. If he is visiting the state, it is a good thing, but the people know everything and they will restore faith in Mahayuti in the elections. He said that the Election Commission has announced the elections. Uddhav Thackeray and the opposition want to postpone the elections, so they are alleging irregularities and rigging in the voting list. However, the Supreme Court has issued instructions to hold the elections soon, so it is not possible to postpone or delay the elections. Fadnavis expressed confidence that he has faith in the people. This time too, the people will agree with Mahayuti. Therefore, the opposition wants to postpone and postpone the elections, while Mahayuti is ready for the elections.

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