Enforcement Directorate issues notice to two cooperative banks in Maharashtra.

The directorate (ED) has issued notices to two cooperative banks in Maharashtra which had given loans for the purchase of Jarandeshwar Sugar Mills in Satara which was seized on the 1st of this month. The ED had seized the Jarandeshwar Sugar Mills in Satara while taking major action in the Maharashtra State Cooperative Bank scam.

The said sugar mill belongs to a close relative of the Deputy Chief Minister of the state Ajit Pawar. Both Pune District Central Cooperative Bank Limited and Satara District Central Cooperative Bank Limited have confirmed receipt of notice by the ED. The banks have been asked to provide details of the loan. The agency is keeping a close eye on the irregularities in the loan transactions made by these banks to the sugar mills. However, the presidents of these banks have denied allegations of any irregularity.