Mumbai, Dec 5 (PTI) A special court in Mumbai has framed charges against former NCP MLA Ramesh Kadam and nine others in a money laundering case linked to alleged misappropriation of over Rs 300 crore from a state-run corporation in Maharashtra where he was chairperson.

Special Judge Satyanarayan Navander, presiding over a PMLA court, on November 28 framed the charges against the accused under relevant provisions of the Prevention of Money Laundering Act after all of them pleaded not guilty.

Framing of charges paves the way for commencement of trial in a criminal case.

Kadam and his associates are accused of laundering approximately Rs 313 crore from the state-run Sahityaratna Lokshahir Annabhau Sathe Development Corporation (SLASDC), which was intended for upliftment of the Matang community in the state.

The Maharashtra government established SLASDC in 1985 for the purpose of improving the lifestyle of backward Matang community members living below the poverty line and placing them at a respectable position.

The corporation, which functions under the social justice and special assistance department, gets financial aid under various schemes of the central and state government.

Kadam, during his tenure as chairperson of the corporation from 2012 to 2014, functioned as a "de-facto dictator," reducing Managing Directors to mere "rubber stamps" to bypass standard procedures, the charge order, available on Friday said.

Funds meant for financial and social development of the 'below poverty line' population were diverted to bogus entities formed in the names of Kadam's close associates and relatives. These funds were subsequently used to purchase real estate and corporate entities for personal gain, the order said.

As per the allegations, Kadam, while working as a public servant, colluded with co-accused, forged documents and used them as genuine to embezzle funds from the corporation.

The other accused include managing directors of the corporation and firms linked to Kadam. PTI AVI RSY

Ex-NCP MLA Ramesh Kadam charged under PMLA over alleged Rs 313 crore laundering from a state welfare corporation. Charges under the Prevention of Money Laundering Act allege that the former chairperson and co-accused laundered about Rs 313 crore from a state welfare corporation by colluding with associates, forging documents, diverting funds to bogus entities, and acquiring real estate and corporate assets for personal benefit, with the court framing charges and directing trial to proceed.