Mumbai: ED Seeks To Intervene In Proceeds Of MSCB Case

Mumbai: ED Seeks To Intervene In Proceeds Of MSCB Case

The Economic Offences Wing (EOW) which probed the case sought to close the case, while the ED wanted to object to it.

Charul Shah JoshiUpdated: Saturday, March 02, 2024, 12:06 AM IST
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The Enforcement Directorate (ED) on Friday sought to intervene in the proceeds of Maharashtra State Cooperative Bank (MSCB) scam case. The Economic Offences Wing (EOW) which probed the case sought to close the case, while the ED wanted to object to it.

The special MP and MLA court has asked the ED to first show maintainability of the plea since the previous application was rejected by the special ACB court. The ED would now present its case in the next hearing.

Scam comes to light after activist files PIL

The scam came to light after activist Surinder Arora filed a PIL in HC seeking a probe.

The original complainant, meanwhile, told the court that the agency has still not served the notice accompanied by the closure report filed by it, for them to file a reply on it. The court has now asked the EOW to serve it by next hearing.

The EOW of the Mumbai Police had in September, 2020 filed the first closure report in the alleged Rs25,000 crore fraud at MSC Bank claiming that the Special Investigation Team (SIT) constituted to probe the allegations did not find any evidence of criminality in the case.

The Special Investigation Team (SIT) had in October 2022, taken up further investigation into the allegations of several irregularities considering issues raised by the complainants. However, the agency filed the second closure report in January 2024.

The EOW has claimed that even after the further investigation into issues raised by the complainant, the agency found no evidence against the office bearers of the bank.

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