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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: Harassment of ordinary Muslims in the name of Bangladeshis should stop, Abu Asim makes serious allegations against the government over Home Minister Amit Shah’s statement

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abu azmi

Mumbai: Maharashtra Samajwadi Party leader Worker Assembly Abu Asim Azmi criticized the statement of Home Minister Amit Shah and said that it is the responsibility of the Home Minister and the Central Government to take action against Bangladeshi and Pakistani infiltrators. The population of Muslims in India has increased due to Bangladeshis. This is completely wrong. The residents of West Bengal and ordinary Muslims are being targeted under the guise of Bangladeshi and Pakistanis. He said that the government is yours in many states and at the center, so how do Bangladeshi infiltrators enter from the border? What action has the government taken against those who forge their documents so far? He said that targeting Muslims under the guise of Bangladeshi should be stopped, just as Karat Soumya is trying to fake the certificates and documents of every Muslim and is targeting Muslims. He said that the government should pay attention to how Bangladeshi infiltrators infiltrate from the Indian border. This is not the job of Congress, SP or other parties. It is the job of the government to take action against Bangladeshi and Pakistanis and to bring them to justice. But Muslims should not be harassed or disturbed. He said that action is being taken against those officers who are preparing documents for Bangladeshis.

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Maharashtra

Mumbai underworld don DK Rao arrested for extortion on Saturday

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Mumbai: Mumbai Crime Branch has claimed to have arrested gangster DK Rao, a member of the Mumbai underworld Don Chota Rajan gang, on charges of extortion. Along with this, the police have also arrested two of his associates Anil Singh and Menit Bhuta. The gangster, along with Menit Bhuta, had collected Rs 1.25 crore from an investor and threatened him with dire consequences, after which the complainant lodged a complaint with the police. The police took action and arrested DK Rao and obtained his remand. The Mumbai Crime Branch had also arrested DK Rao on charges of threatening a hotel owner and demanding Rs 2.5 crore. Along with this, his associates were also arrested.

A hotel owner in the suburban Sakinaka area was threatened and forced occupation of a hotel is also an allegation. A case was registered in this matter in which DK Rao is on bail. Last night, DK Rao appeared in the sessions court in connection with the hearing of his old case. He had gone for an appointment and the police arrested him. In this case, the police are interrogating him and his associates. It is said that DK Rao still has a hold and terror in the Dharavi area and is involved in other illegal activities including weekly summons. The Crime Branch has now tightened its grip on this, which is causing terror in the underworld. In this case, the Crime Branch will also interrogate DK Rao’s associates. Along with this, the Crime Branch will also interrogate the victims who were victims of DK Rao’s harassment.

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Maharashtra

Maharashtra Deputy CM Eknath Shinde Addresses Criticism, Urges Shiv Sena Workers To Gear Up For Upcoming Elections

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Mumbai: Deputy Chief Minister Eknath Shinde responded sharply to criticism from local leaders, emphasizing that Shiv Sena works on the ground rather than just through posters. Speaking at a rally of party workers, Shinde remarked that while some make foreign trips to London, they often return empty-handed.

Shinde criticized opponents threatening disruption (“humbarada fod”) in the wake of the Mumbai municipal elections, highlighting that his government has provided ₹32,000 crore in aid to flood-affected farmers, exceeding opposition expectations. He also recalled past elections, noting that after setbacks in 2022, the party fought 100 assembly seats, winning 20, and metaphorically “broke humbarada” then—implying that some challenges should be reserved for future confrontations.

Shinde stressed the importance of grassroots workers, stating, “Our party belongs to the workers, not to the master-servant hierarchy. I work as a worker, not just as Chief Minister or Deputy Chief Minister.” He praised Shiv Sena’s proactive response during crises in Sangli, Kolhapur, Chiplun, Kerala, and Uttarakhand.

He outlined recent developmental initiatives, including a ₹32,000 crore relief package for flood-affected areas and the progress of the Marathwada Water Grid project. Shinde emphasized that the party aims to reach every household, and urged party officials and workers to uphold Hindutva, ensure voter engagement, and maintain organizational discipline.

On elections, Shinde highlighted the role of booth and group leaders in determining success. He advised meticulous verification of voter lists, stressing that errors could cost votes. A special app has been launched for election preparedness, enabling real-time surveys and corrections.

He called for unity within the Maha Yuti alliance, warning against actions that might create divisions, and encouraged party workers to commit to spreading the Shiv Sena’s presence in every home.

Present at the rally were Social Justice and Sambhajinagar Guardian Minister Sanjay Shirsat, MP Sandipan Bhumre, MLAs Pravin Jayswal, Vilas Bhumre, Ramesh Bornare, Sanjana Jadhav, city chief Rajendra Janjal, and other senior Shiv Sena leaders and workers.

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