All accused discharged

MUMBAI, OCT 30: All the accused in the Rs 4.68 crore Abhyudaya Co-operative Bank scam, including independent MLA and bank chairperson Sit...

MUMBAI, OCT 30: All the accused in the Rs 4.68 crore Abhyudaya Co-operative Bank scam, including independent MLA and bank chairperson Sitaram Ghandat, were discharged by a metropolitan magistrate8217;s court following an application filed by the Economic Offences Wing of the Mumbai police that there was no prima facie evidence against the accused.

Additional Chief Metropolitan Magistrate of the 37th court N B Pokharkar discharged all the 21 accused, who were directors of the bank or builders with whom they allegedly connived to siphon public money to the tune of Rs 4.68 crore.

According to the first remand in which ten accused were named and where Ghandat was shown as absconding, enquiries revealed a prima face case of criminal breach of trust, cheating, forgery and conspiracy against the accused. Bank officials had purchased premises at Andheri, Kandivli, Worli, Navi Mumbai, Airoli and Nerul.

The directors allegedly cut a deal with the dealers of the plots at Andheri, Kandivli and Worli, whereby morespace was shown on the agreement than what was actually purchased. The money allegedly made from the differentials was allegedly siphoned off, the police said.

In their discharge application, the police submitted that an opinion had been sought from Advocate-General of Maharashtra C J Sawant by the state government.

Sawant held that there is no prima facie case against the accused and that the investigation be closed and the accused be discharged. An opinion had also been sought from the Additional Public Prosecutor, who confirmed Sawant8217;s finding.

In his order, the magistrate observed that considering the investigation papers and submissions of the investigating officer, there does not seem any evidence to prove that any director of the bank or any officer received a kickback amount from those sellers in the said alleged transaction.

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8220;It appears that the bank might have paid an excessive amount than the market price to the said builder, but this transaction was done by means of cheque,8221; themagistrate observed. There was no evidence to show that at the relevant time in the said locality, there was a particular market rate which was prevalent while purchasing or selling the premises.

After perusing certain documents from the case diary and the opinion of the Advocate-General, the magistrate observed that there was no need for the police to file a charge-sheet and that the case was fit for discharge.

Apart from Ghandat, the accused who were discharged are Udayan Thakkar, Madhukar Chavan, Ashok Chalke, Eknath Satam, Raghuram Shetty, Balasaheb Mehar, Jitu Shah, Mahendra Doshi, Jayantilal Gundecha, Allywn Rodrigues, Achyut Kapile, Bhiva Shivdikar, Stanislaus Saldhana, Yeshwant Shinde, Mhataba Kane, Harihar Jaiswal, Maruti Mhatre, Umarchand Gundecha, Kirit Gundecha and Vijay Gundecha.