The Enforcement Directorate (ED) is back in action post-Lok Sabha elections, conducting raids in Mumbai, Karjat, Baramati, and Pune in a money laundering case involving Shree Shiv Parwati Sugar LLP. The focus is on a bank loan fraud case of Hi-TECH Engineering Corporation India Pvt. Ltd. Managers Nandkumar Tasgaonkar, Sanjay Awate, and Rajendra Ingwale are under scrutiny.
During the raids, suspicious documents, digital evidence, and ₹19.50 lakh were seized. The ED discovered that out of a ₹100 crore loan, ₹71 crore was misused and diverted to other accounts. Tasgaonkar Construction Limited, Tasgaonkar Industries Private Limited, and Hi-TECH Engineering Corporation India Pvt. Ltd. are accused of siphoning off funds.
Rohit Pawar’s company is also under investigation, with Tasgaonkar Construction Limited allegedly linked to Hi-TECH Engineering Corporation India Pvt. Ltd. The ED is looking into Rohit Pawar’s acquisition of Kannada Cooperative Sugar Factory and any possible involvement of Hi-TECH Engineering Corporation India Pvt. Ltd. in the process.
Both the ED and CBI are working on further investigations to uncover the full extent of the fraud and bring the perpetrators to justice.
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