The Enforcement Directorate (ED) on Thursday conducted searches at 10 locations in the State in connection with a ₹328-crore loan fraud case registered against Ratnakar Gutte, a local leader of the Rashtriya Samaj Party (RSP) from Parbhani. The RSP is an alliance partner of the Bharatiya Janata Party.
In 2017, the Gangakhed police in Parbhani had registered an FIR against Mr. Gutte, chairman of M/s. Gangakhed Sugar and Energy Private Ltd. (GSEPL), and others after it came to light that loans had been taken from six banks in the name of 8,000 to 10,000 farmers using bogus documents. The Aurangabad Bench of the Bombay High Court subsequently directed the Economic Offences Wing to probe the matter and the ED, too, initiated its own investigations.
“Based on inquiries so far, searches were conducted on Thursday at 10 locations, three in Mumbai and others in Parbhani, under the Prevention of Money Laundering Act. Documents pertaining to the loans availed from the banks and the details of the farmers submitted in the process have been seized,” an ED officer said.
The officer said GSEPL took the crop loans between 2012 and 2017 from Andhra bank, UCO Bank, United Bank of India, Bank of India, Syndicate Bank and Ratnakar Bank using forged documents like 7/12 extracts, identity proof documents and photographs.
“These loans were in the name of non-existing and even dead farmers, and bogus savings accounts were created in their names. Mr. Gutte, along with agricultural officers and bank employees, entered into a criminal conspiracy for this purpose. The sanctioned amount was deposited in the saving accounts of the farmers and transferred to GSEPL’s current account the same day,” the officer said.