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Special Court Denies Bail for BJP Leader in Rs 12.8 Crore Money Laundering Case


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A special Prevention of Money Laundering Act (PMLA) court on Monday denied the bail application of Digambar Rohidas Agawane, a BJP leader from Satara, who was arrested by the Enforcement Directorate (ED) earlier this year in connection with a ₹12.8 crore money laundering case. The court rejected his plea, emphasizing Agawane’s involvement in generating, siphoning, and layering the proceeds of crime.

Court’s Observation on the Money Trail

In its detailed judgment, the court noted that the chargesheet and supporting documents demonstrated a clear money trail that linked Agawane to the crime. The court observed, “The money trail which is shown in the chargesheet, along with the documents, goes to show that from all such activities, the accused has benefitted and generated proceeds of crime to the tune of ₹12.8 crore.”

Multiple Fraud Cases Against Agawane

Agawane faces over 12 FIRs related to various fraud cases. The ED had registered an Enforcement Case Information Report (ECIR) based on these FIRs, leading to the initiation of money laundering proceedings. Agawane is accused of generating, siphoning, layering, and parking proceeds of crime amounting to ₹12.8 crore.

Allegations of Fraudulent Schemes

The BJP leader allegedly operated several fraudulent schemes under the guise of his company, Ayur Urban Multipurpose Nidhi Limited. He is accused of luring individuals to invest in his company with promises of high returns, which he ultimately failed to deliver, resulting in the cheating of numerous investors. Agawane is also alleged to have secured loans through fraudulent means by convincing individuals to become directors of dummy companies. These loans were then diverted to his company, Ayur Urban Ltd.

Siphoning of Loan Amounts

One of the FIRs against Agawane details how he made false promises to a complainant, appointed him as a director, and then siphoned off the loan amount taken in the complainant’s name. Additionally, Agawane is accused of double-mortgaging properties with various financial institutions and mortgaging disputed properties to obtain loans.

Court’s Remarks on Agawane’s Modus Operandi

The court remarked that Agawane appeared to have a pattern of appointing individuals as directors of companies, launching new entities, securing loans in their names using their properties, and then diverting part of the loan amounts to his own accounts or those of his relatives and companies. The court stated, “It prima facie appears that applicant/accused is in a habit of offering persons to become directors of the company, launching a new company, then taking loan in the name of that company by using properties of said person and diverting part of loan amount to his account or in the account of his relatives or company.”

Defense Argument

Agawane’s defense argued that there were no proceeds of crime involved in the registered FIRs and, therefore, the ECIR should not have been registered. The defense also contended that the FIRs were motivated by Agawane’s differences with sitting MP Ranjitsingh Naik Nimbalkar, who allegedly holds significant political influence.

Court’s Final Decision

In rejecting Agawane’s plea, the court highlighted his use of dummy directors to secure loans in the names of entities such as JD Chemicals and Fertilizer Pvt Ltd and Namnil Trading LLP. The court noted that loans of ₹2.75 crore and ₹2.55 crore were taken under these entities, with promises of double or triple returns to the directors, which were never fulfilled. Special judge AC Daga concluded that there was sufficient evidence to deny bail.

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