ED takes top officials of Mushrif-controlled Kolhapur Cooperative bank to Mumbai after 30hr search

KOLHAPUR: The Enforcement Directorate (ED) took top officials from the head office of the Kolhapur District Central Cooperative (KDCC) bank to Mumbai on Thursday evening, most likely in connection with the ongoing inquiry against NCP MLA Hasan Mushrif for alleged money laundering. Mushrif is the chairman of the apex cooperative bank of the district.
The ED had searched Mushrif’s home, a sugar factory, the residence of his close associate and the Pune office of a private firm allegedly linked to Mushrif’s relatives. The top bank officials taken to Mumbai include chief executive officer A B Mane. Other officials are from the loan sanction department.
The search started by the ED team on Wednesday morning lasted 30 hours. The ED officials did not let the bank personnel leave the KDCC headquarters during the investigation period. They also seized a large tranche of documents from the bank.
Meanwhile, BJP leader Kirit Somaiya shared a video on his social media account on Thursday and said: “Large number of benami accounts with crores of cash deposits have been made with the bank. The accounts are in the name of the farmers. Hasan Mushrif should now reveal the details.”
Mushrif arrived at the KDCC bank after the ED team had left. Speaking to the media, Mushrif said, “The allegations are of distribution of loans illegally to the sugar factories.
No loan has been sanctioned without the screening committee of bank officials. I have no locker and no loan account with the bank. Since I became its chairman, the bank has been making profits. So far, no strictures have been passed on the bank by any governing institution such as the Reserve Bank of India.”
Meanwhile, the bank employees were upset. They have decided to observe ‘no-work’ for one hour on Friday. They claimed the staff faced inconveniences because the ED did not let them leave for 30 hours. Moreover, the employees said the ED did not heed the requests of the top officials who wanted to return home for the night and then appear at the ED’s office in Mumbai.