ED attaches Peddar Road plot of NCP legislature in money laundering case

MUMBAI: Enforcement Directorate (ED) on Thursday attached a Peddar Road plot worth Rs 110 crore along with other properties of NCP legislature Ramesh Kadan in a money laundering case connected with Lokshahir Annabhau Sathe Development Corporation (LASDC) scam.
Kadam was chairman of the government-run LASDC (2012-14) when he allegedly transferred the money from the corporation’s account to those of his associates' companies, and they had purchased properties on his name.LASDC money was meant to help the socially backward Matang community.
On Thursday, the ED issued attachment order of the property that Kadam had purchased with the help of proceeds of crime. The attached properties include a plot measuring 669 square mts at Peddar Road. The plot is on name of Comral Realty and Kadam had purchased the company with the help of LASDC money.
ED also attached a flat in Borivali worth Rs 2.11crore that Kadam owned with his wife, agricultural land in Aurangabad worth Rs 7.36 crore in the name of Joshaba Central Consumer Cooperative Society where Kadam was the chairman and bank balances worth Rs 76.67 lakh.
Kadam represents Mohol constituency in Solapur district. The constituency was earlier represented by former NCP minister Laxman Dhoble, who quit the party after being denied a ticket in the October 2014 assembly elections. Kadam won on an NCP ticket. Dhoble had raised the issue of corruption in the LASDC and had criticized former deputy chief minister Ajit Pawar for protecting Kadam. Action against Kadam was expedited after Devendra Fadnavis took over as chief minister and in July 2015 the Dahisar police had registered a fraud case against him as Kadam lives in their jurisdiction. The case was later transferred to the state CID and they arrested Kadam along with associates in the case. NCP suspected Kadam from the party after his arrest.
Based on Dahisar case, the ED has also registered Rs 312 crore money laundering case against Kadam and others. The officials were surprised with the blatant misuse of power, stated that a basic check by government-monitoring agencies could have detected the fraud.