5 more named in FIR filed to probe Annabhau Sathe scam

Five more accused have been named in the FIR registered to investigate the alleged misappropriation of funds of around Rs 312 crore from Lok Shahir Annabhau Sathe Development Corporation.

Three are shown wanted while the remaining two have received interim relief from the Bombay high court.

At least 10 persons have already been arrested by the Maharashtra state Criminal Investigation Department (CID) in the case so far.

The three wanted accused are R. Gadekar, Shravan Bavne and Pawandeepsingh Kolhi. The two who have received interim relief from the Bombay high court are Santosh Ingle and Kamlakar Takavale.

Explaining the roles of these accused, a state CID official said Gadekar was the driver of Kamlakar Takavale.

In 2015, Takavale and Gadekar became the directors of Maitri Sugar Private Limited, a firm, which was earlier owned by Amardeep Sethi, another arrested accused in the case.

About Rs 5 crore were routed to Maitri Sugar Private Limited through the corporation. Sethi was granted interim relief after he told the court that he would return Rs 5 crore.

Gadekar did this at the behest of prime arrested accused MLA Ramesh Kadam of Nationalist Congress Party (NCP) who was the then chairman of the corporation. Bavne was then the managing director of the corporation in 2014.

Bavne allegedly played a role in helping Kadam to misappropriate funds running into over Rs 100 crore. Pawandeepsingh is the proprietor of Mahindra enterprises, which received over Rs 20 crore from the corporation. Pawandeepsingh did this at the behest of Kadam. Lastly, Ingle was the predecessor of Bavne and worked as the managing director of the corporation from June 2012. The alleged financial fraud took place between 2012-2014.

In another development, the state CID has made an application before the sessions court to attach 12 of the 18 properties bought by Kadam, his wife and associates out of the misappropriated funds. The market value of these properties is worth Rs 250 crore, it has been learnt from a state CID official.

On Monday Vimal Shah (56), a well-known builder and his aides Vilas Bhandarkar (42), Kiran Contractor (45) and Suhas Dumbre (46), were arrested. Shah owns Hubtown and Comran Realty is its sister firm. Suhas and Kiran worked for Shah and were directors of Comran.

Kadam had registered three firms namely, Lok Shahir Annabhau Sathe Maga Swargiya Suth Girni, Joshaba Central Consumer Cooperative Society and Mahalaxmi Doodh Cooperative Society. Of these three firms, Rs 106 crore went to Comran Realty, and some of this money was used to buy an open plot of 800 square metres on Peddar Road. Bhandarkar is a close aide of Kadam and facilitated this deal.