The Economic Offences Wing (EOW) of the Mumbai police, in its second closure report on the alleged multi-crore fraud at the Maharashtra State Co-operative (MSC) Bank, found no evidence of any cognisable offense based on received information and recorded statements.
Additionally, the EOW did not discover any incriminating material from the Enforcement Directorate (ED) concerning Rohit Pawar’s Baramati Agro’s purchase of a cooperative sugar factory.
MSC Bank’s troubles began in 2011, triggered by a National Bank for Agriculture and Rural Development inquiry report revealing financial mismanagement and ballooning non-performing assets, primarily from imprudent loans to sugar cooperatives and spinning mills.
The EOW’s first closure report in September 2020 was approved by the court, but in October 2022, the agency disclosed further investigation plans prompted by points raised by complainants and the ED.