Unless pursued to its logical conclusion by the Bombay High Court, the Maharashtra State Cooperative Bank scam will be pushed under the carpet. From Deputy Chief Minister Ajit Pawar to his nephew and NCP MLA Rohit Pawar, a host of well-connected politicians are said to be the beneficiaries of the thousand-crore plus rupees heist between 2007 and 2011. The collusive sale of sick sugar factories to favoured individuals, including to Rohit Pawar, at throwaway prices, the fraudulent loans from the MSC Bank and the subsequent defaults thereon underline a systematic plan to loot public funds. In one case, a sugar factory sold to Rohit Pawar for Rs 50.20 crores was able to raise about Rs 120 crore loan from a State-owned bank against only a portion of the said factory. Thanks to the intervention of the Bombay High Court in August 2019, the Economic Offences Wing was made to register an FIR against Ajit Pawar and a few other for causing a loss of Rs 1,000 crores. A case of cheating and forgery was also registered against Ajit, his uncle Sharad Pawar by the Enforcement Directorate in this regard. Now that they are back in power in Maharashtra, the case will be put in cold storage. It is for the Bombay High Court to ensure that investigations are monitored by a court-appointed amicus curiae who should report the progress at regular intervals.
FPJ Edit: The Maharashtra State Cooperative Bank scam
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