In numerous allegations against NCP leader and five-time legislator Hasan Mushrif, the Enforcement Directorate (ED) has said that he cheated farmers by luring them with shares and utilised the money on expanding his sugar business. The agency said that in 2014, he misused his position as labour minister to acquire a sugar factory in Kolhapur on a 10-year-lease, and used the assets of this factory to get loans that were diverted to Sar Senapaati Sanataji Sugar Ghorpade Sugar Factory Limited (SSGSFL), of which his sons are directors.
The agency levelled the allegations while opposing Mushrif’s anticipatory bail application filed before a special court in connection with a money laundering case concerning SSGSFL. Mushrif had called the case politically motivated in his application filed through advocates Prashant Patil, Swapnil Ambure and Atit Soni.
The ED has alleged that in connivance with his family members, Mushrif lured farmers, collected money to the tune of over ₹37 crore on the pretext of allotting them shares in SSGSFL. But, instead of allotting them shares, shares were allocated to two firms owned and controlled by his family. It also alleged that Mushrif infused funds into SSGSFL from Kolkata-based shell companies in the form of share capital.
The agency further alleged that he misused his position as labour minister in 2014 to influence government authorities to acquire a sugar factory called Appasaheb Nalavade SSK Limited in the name of Brisk India Pvt Ltd for 10 years. It alleged that Mushrif collaborated with his son-in-law Mateen Mangoli to acquire loans from Kolhapur District Central Co-operative (KDCC) Bank against its assets and diverted the loans to SSGSFL.
Further, the ED alleged that loans amounting to ₹1,260 crore have been sanctioned from KDCC to SSGSFL between end-2015 to March last year. Further, loans of ₹387.26 crore are outstanding against plant, machinery, shares, etc. The agency alleged loans amounting to ₹872.63 crore were sanctioned to Brisk facilities (sugar division) from October 2015 to March 2021 and that Mushrif misused his position as chairman of the bank to sanction loans to Brisk facilities.
It said that ₹156 crore are outstanding and to prevent them from being declared as non-performing assets, Mushrif misused his position again to restructure the loan. For this, he allegedly instructed bank officials to prepare a backdated resolution.
A special court on Tuesday granted Mushrif interim protection from arrest till April 5, when it is likely to decide his anticipatory bail plea in the case.
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