Mumbai, July 18, 2026: The Enforcement Directorate's (ED) prosecution complaint in the alleged Rs 42-crore money laundering case against self-styled godman Ashok Kharat alias Captain Bondhu Baba has accused his wife, a close associate, and officials of two cooperative credit societies of helping him launder the proceeds of crime by facilitating benami accounts, large cash withdrawals and property transactions across Maharashtra.
The complaint alleges that Kharat, the principal accused, concealed the proceeds of crime by routing funds through cooperative societies, benami accounts, cash handlers and accommodation entries before investing them in movable and immovable assets.
Wife Named In Complaint
According to the complaint, Kharat's wife, Kalpana Ashok Kharat, actively assisted in transactions linked to the alleged laundering of proceeds of crime. The ED alleged that between November 2003 and February 2004, she accompanied Ashok Kharat and two to three unidentified persons when they induced members of the Mali family through fraudulent occult practices and false representations to execute sale deeds in their favour for Rs 2.49 lakh and Rs 1.37 lakh, amounts the agency claims were far below the properties' market value. The complaint alleges that the family was made to sign pre-drafted documents, threatened with "divine wrath" and never received the promised consideration. Investigators further alleged that Kalpana Kharat was present when Kharat handed over cash to N.B. Patil in connection with one of the land transactions. The ED also alleged that several immovable properties acquired from the proceeds of crime were purchased in her name and that she knowingly allowed them to be used to conceal and project illicit assets as untainted.
The prosecution complaint also names Arvind Pandurang Bawake, described as Kharat's long-time associate, alleging that he managed 60 accounts at Samata Nagari Sahakari Patsanstha and facilitated cash deposits and withdrawals worth nearly Rs 18-20 crore on Kharat's instructions. The ED alleged that Bawake transported cash, acted as power-of-attorney holder in a land deal and received commissions for facilitating the transactions.
Role Of Credit Societies
The agency has accused Namkaran Yashwant Aware, chairman and founder of Jagdamba Mata Gramin Bigarsheti Sahakari Patsanstha Maryadit, of enabling Kharat's alleged laundering network by allowing the opening of 34 benami fixed deposit and current accounts without mandatory Know Your Customer (KYC) documentation. According to the complaint, Aware directed the society's then manager, Avinash Waman Kandekar, to assist Kharat in operating the accounts and knowingly facilitated cash deposits, withdrawals and maturity payments worth Rs 3.18 crore while keeping the transactions from the society's board. The ED has also alleged that Aware jointly owns a property at Gat No. 188/02 in Pathardi with Kharat, which forms part of the alleged money laundering trail.
The ED alleged that Avinash Waman Kandekar, then branch manager of Jagdamba Mata Gramin Bigarsheti Sahakari Patsanstha Maryadit, allegedly opened the benami accounts. Acting on the directions of the society's chairman, Aware, and under Kharat's influence, Kandekar personally opened 34 fixed deposit and current accounts, including 32 benami accounts allegedly controlled by Kharat. Investigators alleged that he converted cash deposits of about Rs 1.86 crore into fixed deposits, personally processed the withdrawal of maturity proceeds amounting to nearly Rs 3.18 crore, and handed over the cash directly to Kharat.
Managers Allegedly Facilitated Transactions
The complaint also names Milind Dadasaheb Bankar, then branch manager of Samata Nagari Sahakari Patsanstha, alleging that he knowingly opened 43 accounts on May 25, 2021, without the physical presence of account holders, proper KYC verification or mandatory account-opening formalities. According to the ED, Bankar relied on pre-filled application forms submitted in bulk by Kharat and subsequently colluded with Kharat and Bawake in operating 60 accounts, structuring transactions below Rs 2 lakh to avoid regulatory scrutiny and enabling systematic cash deposits and withdrawals in violation of KYC and anti-money laundering norms.
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According to the ED, the proceeds of crime were layered through cooperative society accounts, cash transactions and accommodation entries before being invested in land and other immovable properties across Nashik, Ahmednagar, Pune, Solapur and Mumbai, several of them allegedly purchased in the names of Kharat's family members. The agency has charged all the accused under Sections 3 and 4 of the PMLA, alleging that they knowingly participated in the concealment, possession, layering and projection of the proceeds of crime as untainted assets.
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