ED carries out searches at premises of sugar baron & BJP ally Ratnakar Gutte

The Enforcement Directorate (ED) on Thursday conducted searches in Mumbai and several other locations in Maharashtra in connection with a bank loan fraud by politician and businessman Ratnakar Gutte.

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A sugar mill owned by BJP ally Rashtriya Samaj Paksha (RSP) leader Ratnakar Gutte allegedly procured loans worth Rs 328 crore in the name of mostly dead farmers. The searches are being carried out at Gutte’s premises in Parbhani district and Nagpur and at three locations in Mumbai, including an educational institute in Bandra West. Gutte is also the leader of Rashtriya Samaj Paksha (RSP), which is an ally of the ruling BJP in Maharashtra.

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Ratnakar Gutte is also father of Vijay Gutte, the director of the controversial film The Accidental Prime Minister. The six banks from which the loans were taken are Andhra Bank, UCO Bank, United Bank of India, Bank of India, Syndicate Bank and RBL Bank.

The agency believes that most of the farmers who were granted loans never existed, few were already dead and few were not even aware that they have been granted loans.

The ED has registered case against Ratnakar Gutte under Prevention of Money Laundering Act