You are here: Home » PTI Stories » National » News
Business Standard

Ex-ASDC MD remanded to police custody till Jan 18

Press Trust of India  |  Jalna 

Former of Annabhau Sathe Development Corporation (ASDC) Shravan Bawane, arrested in connection with a scam in the state-owned corporation, was today remanded to police custody till January 18 by a here.

The CID, probing the alleged multi-crore scam, had arrested Bawane from in in December last year.

He was absconding for almost around three years and is wanted in 11 cases along with the multi-crore scam in the corporation.

Bawane was presented before sessions judge Vaid Pathak today who remanded him in police custody for eight days, said

One of the FIRs was registered against Bawane in Jalna in connection with the alleged scam, he said.

The cases were also registered against him in various cities like Bhandara, Hingoli, Buldhana, Parbhani, and Beed.

The kingpin of the scam, Ramesh Kadam, a sacked legislator of the Nationalist Party (NCP), is in jail.

According to prosecution, Bawane has been accused of colluding with Kadam.

Some of the major cases against Bawane include a case at station with regard to syphoning of Rs 312 crore.

A similar case at Bhandara of Rs 27.65 crore, case at Buldhana (Rs 12 crore). Another case at Jalna of Rs 11 crore, besides some more cases at Beed, Parbhani, and Hingoli.

There are some more cases of as well as misappropriation of Rs 5 crore.

The government had earlier said in the that multi-crore worth funds were embezzled from the ASDC by Kadam who had allegedly gifted luxury cars to some office- bearers of his party by diverting funds meant for purchasing vehicles for financial wellbeing of candidates from the weaker sections of the society.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Wed, January 10 2018. 23:15 IST