Maharashtra business tycoon allegedly took Rs 5,400 Crore loans in farmers' name

A leader of Opposition in Maharashtra Legislative Council, Dhananjay Munde on Tuesday said a businessman had allegedly secured loans worth over Rs 5,400 crore on the basis of fake Ids made in the name of farmers.

Ratnakar Gutte, promoter of the Gangakhed Sugar and Energy Limited of Parbhani district had also transferred loans of various firms into different accounts, said Munde of Nationalist Congress Party (NCP).

He claimed that Gutte had formed 22 shell firms for the money.

"In 2015, Gangakhed Sugar Factory procured bank loans in the names of more than 600 farmers under the 'Harvest and Transport scheme'. These farmers are now getting bank notices for loans amounts some of which are as high as Rs. 25 lakh," Mr Munde claimed.

He further alleged that several firms had no assets of value.

An FIR had been registered against Ratnakar Gutte on July 5 under different sections of the IPC but no arrest had been made so far, Dhananjay Munde said.

Hitting an extremely serious issue, Munde said that any complacency on the part of the government could allow the businessman to flee the country similar to that of PNB scam-accused Nirav Modi.

Council Chairman Ramraje Nimbalkar took a note of the issue raised by Munde and asked for information from the government.

Nimbalkar asked the government whether the Special Investigation Team was appointed by the court or not.