MSCB scam: Ajit says he respects court, will consult lawyers

A day after the Bombay High Court directed that an FIR be registered against him in connection with a scam at Maharashtra State Cooperative Bank (MSCB), NCP leader Ajit Pawar said on Friday that he will consult his lawyers.

The high court asked the Economic Offences Wing of Mumbai Police to register first information reports against Pawar, a former deputy chief minister, and over 70 others on Thursday.

"I have heard the news about the court ordering registration of a case....I have not received any letter in this regard. Therefore it will not be right to comment on it.

"I respect the judiciary. I will take decision after speaking to my lawyers," Pawar told reporters here.

The NCP leader was in Parbhani in central Maharashtra as part of the party's pre-poll campaign 'Shivswarajya Yatra'.

The high court held in its order on Thursday that Pawar and others who were directors of the bank during the relevant period seemed to have "complete knowledge" that their actions would cause it a huge loss.

They are accused of violating banking and RBI regulations while disbursing loans to sugar mills at very low rates, not ensuring recovery of loans, and selling off assets of defaulter businesses at throwaway prices.

All this allegedly resulted in losses of over Rs 1,000 crore to the bank between 2007 and 2011.