24 December,2023 03:10 PM IST | Mumbai | mid-day online correspondent
Sunil Kedar/ File Photo
Sunil Kedar, a senior Congress leader and former Maharashtra minister, has been barred from serving in the state legislature after being convicted of theft of funds at the Nagpur District Central Cooperative Bank (NDCCB), stated a report in PTI.
According to a gazette notice issued on Saturday by the state assembly secretariat, Kedar is disqualified as an MLA as of the date of his conviction on December 22 under Article 19 (1) (e) of the Indian Constitution and Section 8 of the Representation of the People Act, 1951, the report added.
The order establishes that Kedar's Nagpur district constituency of Saoner has become vacant as of the date of his conviction.
According to the report, Kedar and five others were sentenced to five years in prison by a Nagpur magistrate's court for misappropriating cash at the NDCCB. Kedar, a five-time MLA, was convicted in 2002 under numerous sections of the Indian Penal Code, including criminal breach of trust, forgery, criminal conspiracy, and common intention. Each convicted individual was also fined Rs 10 lakh.
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The prosecution said that during Kedar's time as chairman of the NDCCB, the bank lost Rs 125 crore in government securities due to irregularities in fund investment through Home Trade Private Limited, the report added.
In her decision, Additional Chief Judicial Magistrate Pekhle-Purkar emphasised that Kedar and another accused were entrusted with a large share in the bank, emphasising that the misappropriated cash belonged to the bank's members, primarily poor farmers from Nagpur.
The PTI report added that the court emphasised the cooperative sector's mission to help economically disadvantaged people and expressed sadness that Kedar and the then-general manager, Ashok Choudhary, abused the confidence placed in them to administer the funds in accordance with legal rules.
The judge classified the breach of trust as a serious offence, adding that the large loss harmed the bank's financial position and, as a result, the livelihoods of several members and personnel, the report stated.
The court's order emphasised the increased responsibility of persons in positions of authority to protect every member's finances, emphasising the serious consequences of even small financial misconduct.
With PTI inputs
