ED Raids Rohit Pawar’s Baramati Agro and Two Other Companies in Connection with Maharashtra State Cooperative Bank Scam

The Enforcement Directorate (ED) recently searched the offices of three companies, including Baramati Agro, in connection with a scam involving the Maharashtra State Cooperative Bank. The ED believes these companies may have been involved in illegal money activities linked to the scam. One aspect under investigation is the suspected collaboration between Baramati Agro and Hitech Engineering Corporation during the bidding process for the Kannada Sahkari Sakhar Karkhana (SSK) sugar factory. The ED suspects that Baramati Agro and Hitech worked together to manipulate the auction and secure the factory at a significantly undervalued price of Rs 50 crore.

 The ED's case is built upon a Mumbai police FIR against officials from the Maharashtra State Cooperative Bank and politicians. According to the ED, Baramati Agro may have diverted funds meant for working capital to buy Kannad SSK in the auction. Additionally, the ED suspects that earnest money for the bid was transferred from Baramati Agro to Hitech, allowing them to bid a lower amount. The investigation also involves Hitech Engineering Corporation and Samruddhi Sugar Pvt Ltd, with allegations that the Rs 5 crore earnest money paid by Hitech was sourced from Baramati Agro. The ED's money laundering case is connected to the Mumbai police FIR against officials from the Maharashtra State Cooperative Bank, which includes about 70 politicians.