MLA asked to pay 299cr for role in 2002 gilt scam

NAGPUR: Eleven years after Congress legislator Sunil Kedar was first accused in the 2002 gilt scam, a state commissioned inquiry has found him guilty. He has been asked him to pay Rs299 crore within a month for losses caused to the Nagpur District Central Co-operative Bank (NDCCB), of which he was the president then.

Kedar’s indictment is the first of a politician in one of the biggest co-operative scams in Maharashtra.

When the scam broke out in 2002, Kedar, then a NCP MLA, allegedly siphoned off banks funds to buy lakhs of government securities through the Punebased company Home Trade.

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