Despite winning a number of elections in the DCCBs, the NCP top leader Ajit Pawar’s troubles refuse to go away as he is likely to face the inquiry in the Rs 1500 crore scam in the Maharashtra state cooperative bank (MSCB).
According to Free Press Journal the state cooperative dept. has already issued a notice to the NCP stalwart and others for alleged fraud in the bank. The scam spanned three fiscals including 2007-8, 2008-9 and 2009-10.
It deserves repetition that the board of directors, headed by NCP’s Manikrao Patil, was dissolved after the RBI rapped the bank over knuckles for high negative net worth in 2012.
Earlier, a report by the State Cooperative Commissioner had submitted a report to the government alleging that the decisions of the MSCB’s erstwhile board of directors were responsible for the irregularities and financial losses suffered by the State’s apex cooperative bank.
The board of directors is said to have set aside directives from NABARD in releasing loans to sugar mills and several other cooperatives, Free Press Journal quotes a source saying.