Senior Congress leader and former Maharashtra Minister Sunil Kedar has faced disqualification from the State legislative Assembly after being convicted by a Nagpur magistrate's court for misappropriation of funds at the Nagpur District Central Cooperative Bank (NDCCB).
As per the gazette order issued by the state legislature secretariat on Saturday, Kedar's disqualification as an MLA is effective from the date of his conviction on December 22. This action is in accordance with the provisions of Article 19 (1) (e) of the Constitution of India and Section 8 of the Representation of the People Act, 1951. The order further states that Kedar's constituency, Saoner, situated in Nagpur district, is deemed vacant from the date of his conviction.
The Nagpur magistrate's court sentenced Kedar and five others to five years of rigorous imprisonment for their involvement in the misappropriation of funds at the NDCCB, with the case dating back to 2002.
Kedar, a five-time MLA, faced conviction under various sections of the Indian Penal Code, including criminal breach of trust, forgery, criminal conspiracy, and common intention. The six convicts were also each fined Rs 10 lakh.
The prosecution revealed that the NDCCB incurred a loss of Rs 125 crore in government securities in 2002 due to rule violations in fund investments through Home Trade Private Limited, during Kedar's tenure as the bank's chairman.
In the judgment, Additional Chief Judicial Magistrate Pekhle-Purkar emphasized that Kedar and another accused were entrusted with the entire stake of the bank, stressing that the funds in question were the hard-earned money of the people, particularly poor farmers from Nagpur who were members of the bank.
The court highlighted the cooperative sector's objective to uplift economically marginalized sections of society and noted that Kedar, as chairman, and the then general manager Ashok Choudhary breached the trust placed in them for fund investments.
The court deemed this criminal breach of trust a serious offense, underscoring that the significant financial loss could adversely impact the bank's financial position, affecting thousands of members and staff. The judgment emphasized the greater responsibility held by individuals in high posts to ensure the prudent use of every member's money.
