The Annabhau Sathe Development Corporation, already embroiled in a multi-crore scam, has now come under the scanner of the Comptroller and Auditor General, as it has noted irregularities in former’s p
The Annabhau Sathe Development Corporation, already embroiled in a multi-crore scam, has now come under the scanner of the Comptroller and Auditor General, as it has noted irregularities in former’s purchase of a flat in Mumbai
The flat was meant to provide accommodation to the corporation’s officers who have to visit Mumbai for official work. The report stated that the corporation had paid more than the prevalent market rate for the purchase of the flat. The corporation itself had agreed that it neither had the flat in its possession nor the original papers or its key.
Ramesh Kadam, the then chairman of Annabhau Sathe Development Corporation, is currently behind bars over corruption charges.
The report stated that the corporation purchased the flat with a carpet area of 809 square feet from a private party in November 2013 for Rs 1.86 crore.
The report stated that according to the department of registration and stamps, the value of the flat at the time of purchase was Rs 84.28 lakh. The company purchased the flat without adopting a transparent procedure and ascertaining the rates. This resulted in excess expenditure of Rs 1.02 crore, the CAG stated.
In a reply to CAG, the corporation in October 2015 stated that the board had approved and authorised the managing director to purchase the flat for accommodating its officials. It further stated that the company did not have the original papers as well as the key of the flat.
The CAG stated that the response by the company indicated the grave irregularity in the entire transaction as it had been two years since the purchase of the flat.
