The Enforcement Directorate (ED) has sought particulars of loans given to Jarandeshwar Sugar Pvt Ltd from Pune and Satara District Central Cooperative Banks. Satara DCCB Chief Executive Officer Rajendra Sarkale mentioned the ED has sought particulars over e-mail concerning the mortgage given to this sugar mill and the financial institution has supplied the identical. Earlier this month, the ED hooked up the premises of the sugar mill.
Located in Karad Taluka of Satara Jarandeshwar, a The cooperative mill was taken over by a non-public participant When Maharashtra State Cooperative (MSC) Bank auctioned it after failing to repay its loans. The mill was purchased by Guru Commodities for Rs 65 crore, which leased it to Jarandeshwar Sugar Mills, which has as a serious investor Sparkling Soil Pvt Ltd, an organization related to Deputy Chief Minister Ajit Pawar and spouse Sunetra. The ED alleged undervaluation of the mill.
Pune DCCB chairman Ramesh Thorat mentioned they’ve supplied working capital to the mill. “The mills pledge sugar stocks and take loans from us. The loan is recovered after the amount is deducted from the sale of sugar,” he mentioned. Pune DCCB has given loans to 36 sugar mills and there was no default.
Similarly, Sarkale mentioned that the ED had sought particulars of loans given to the mill. Satara DCCB has supplied a mortgage of Rs 129 crore to the mill for enlargement and development of co-generation and distillery items. “Around Rs 96 crore is yet to be paid,” he mentioned.
The motion towards Mill has created a serious political storm within the state and the opposition has focused the NCP over it. The members of the Maha Vikas Aghadi have alleged political vendetta by the BJP utilizing central businesses.
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With inputs from TheIndianEXPRESS
