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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 Urdu Academy should be formed, funds and staff should be appointed for the promotion of Urdu language Abu Asim Azmi

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Mumbai: Mumbai Maharashtra Legislative Assembly member Abu Asim Azmi has demanded the immediate formation of Urdu Academy to promote Urdu. He said that academies of other languages ​​including Gujarati and Marathi are active, but the condition of Urdu Academy is pathetic. Earlier there were 25 employees in this academy, but now only the superintendent is left. The remaining 24 have retired. The government needs to pay attention to the plight of Urdu.

The formation of this academy will promote Urdu. Azmi demanded that the Urdu Academy is facing difficulties due to the provision of funds. He said that the government allocates Rs 1 crore on paper, but this fund is not provided. Abu Asim Azmi said that Urdu is the language of our country. Whenever the Chief Minister or any other minister speaks in the House, they resort to Urdu poetry. But when it comes to the establishment of Urdu Academy and the development of Urdu language, the government is doing injustice

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Maharashtra

On the third day of Maharashtra Assembly, the opposition protested against the corruption of Rs 3000 crore.

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Mumbai: On the third day of Maharashtra Assembly in Mumbai, the opposition accused the ruling party of corruption and protested on the stairs of Vidhan Bhavan, accusing the government of giving contracts to every company of its choice. The state’s construction and development department has given a contract of Rs 3000 crore to Mahagathbandhan government’s Megha Engineering Company. Many shortcomings have been found in the work of this company, but despite this it is dear to the government. Therefore, slogans were raised on the stairs of Vidhan Bhavan that giving contract to this company is condemnable. Opposition members were also holding banner posters of contractor Megha Engineering, in which the picture of the owner of Megha Company was also visible. The opposition has intensified its protest against corruption in the Mahagathbandhan government. Shiv Sena opposition leader Ambadas Danve, Congress members and all parties including Congress protested loudly on the stairs of Vidhan Bhavan and drew the attention of the government towards this.

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Maharashtra

Mumbai School Teacher Arrested Under POSCO Act For Sexually Assaulting Minor Student Multiple Times Over One Year

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Mumbai: A horrifying case has come forward from a well-known Mumbai school where a 40-year-old English teacher from a renowned Mumbai school was arrested under the POCSO Act for allegedly sexually assaulting a 16-year-old student multiple times over a year.

The attacks began after the teacher developed an attraction to the boy while organising dance groups for the school’s annual function in December 2023. Initial advances made in January 2024 were rebuffed by the student, prompting the teacher to enlist a friend to persuade him, claiming such relationships were common. Following this, the teacher picked the boy up, took him to a secluded location, and assaulted him.

According to a report by media, in the ensuing weeks, the teacher provided the student with anti-anxiety medication and arranged outings to luxury hotels, where they had several sexual encounters, often intoxicating him beforehand. The teacher’s arrest has shocked the school community.

The student’s behavioral changes raised concerns with his family, but they decided against reporting the incidents, hoping it would resolve on its own as he neared graduation. After leaving school earlier this year, the student fell into depression, and the situation escalated when the teacher attempted to contact him through the domestic staff. This prompted the family to file a complaint with the police.

Authorities have charged the teacher with penetrative sexual assault and related offenses under the POCSO Act and other relevant laws. The case underscores serious issues concerning student abuse within educational institutions. The teacher has been remanded in police custody until Wednesday, as investigations continue into this disturbing incident involving a minor.

Similar Incident

In another incident a mathematics teacher in Sirmaur district of Himachal Pradesh was arrested for allegedly sexually harassing 24 girl students in classes VIII to X last week. Complaints to the principal led to the teacher’s suspension and subsequent police custody. The Director of School Education initiated an inquiry due to the seriousness of the situation, tasking the Deputy Director of Elementary Education with gathering information promptly. The teacher now faces charges under Section 75 of the Bharatiya Nyaya Sanhita and POCSO provisions, reflecting the education department’s urgency in addressing these allegations.

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