Man held for role in 21 crore scam

The Maharashtra state Criminal Investigation Department (CID) has arrested Pawadeep Kolhi (31), an alleged aide of MLA Ramesh Kadam of Nationalist Congress Party (NCP), for his alleged role in embezzling Rs 21.93 crore from Lok Shahir Annabhau Sathe Development Corporation.

Around Rs 312 crore has been embezzled from the corporation. Four more accused are booked in the case including two who have received interim relief from the high court.

Kolhi was recently arrested from Aurangabad and a sessions court remanded him to custody of state CID till February 24. Around Rs 10.85 crore was transferred from the corporation to the account of Kolhi who bought a land for Rs 6.10 crore in Aurangabad. While a small part of it was bought in the name of the corporation, a majority of it was bought in name of Kadam. There is no accountability for rest of the amount.

In a second transaction, Rs 11.50 crore was routed to Kolhi’s bank account from Joshaba Central Consumer Cooperative Society. Kadam sent this money from the corporation’s fund to Joshaba Central Consumer Cooperative Society. Joshaba and two other such firms were floated by Kadam to siphon off the funds of the corporation through them.

He has a total of eight crime cases against him in which a majority are related to this scam while one is for cheating Malkapur co-operative bank in Aurangabad. He runs Satnam automobile firm.

So far, 11 persons including Kadam and his sisters have been arrested in the case. The two wanted accused are R. Gadekar and Shravan Bavne. The two accused who have received interim relief from the Bombay high court are Santosh Ingle and Kamlakar Takavale.