In a major embarassment to the Congress, the Enforcement Directorate (ED) has attached properties worth Rs 35.48 crore owned by former Union Home Minister and Maharashtra Chief Minister Sushil Kumar Shinde’s daughter and son-in-law, in connection with its probe into the Mack Star case.
An ED official here said that the financial probe agency attached the properties of Shinde’s daughter Priti Shroff and son-in-law Raj Shroff, owners of Jindal Combines Pvt. Ltd and Orlando Trading Pvt. Ltd, under the Prevention of Money Laundering Act (PMLA) in the bank fraud case involving Rakesh Wadhawan and Sarang Wadhawan, both promoters of HDIL and others, in the Mack Star case.
The official said that the attached properties are in the form of two commercial properties measuring 10,550 square feet area each in the Kaledonia building in Mumbai’s Andheri East.
The official said that the ED probe revealed that Wadhawans “illegally and fraudulently” transferred one commercial property of Mack Star located in Kaledonia building, Andheri East, Mumbai to Jindal Combines Pvt. Ltd at price of Rs 9.39 crore (having ready reckoner value of Rs 15.64 crore at that time) in 2014 and another one commercial property to Orlando Trading Pvt. Ltd, at the agreement value of Rs 18 crore (with ready reckoner value Rs 19.84 crore) in 2016.
“However, they paid only Rs 10 crore for the second property till date. The firms are receiving rent of Rs 1.76 crore and Rs 1.39 crore per annum for these two properties respectively,” the official said.
IANS tried to contact Raj Shroff for comment, but multiple calls and messages remained unanswered by the time of filing the story.
The ED had initiated the investigation on the basis of FIR registered by CBI (ACB), Mumbai against Rakesh Wadhawan and Sarang Wadhawan Promoters of HDIL and others for siphoning off the loan to tune of Rs 200 Crore sanctioned by Yes Bank to Mack Star Marketing Pvt. Ltd., by showing it for fictitious purpose.
The officials said that both the companies are owned by Raj Shroff and his wife in a 50:50 partnership mode.
“Thus the Wadhawans cheated Mack Star Marketing Pvt Ltd by illegally selling above said properties without the consent of the majority shareholder (DE Shaw Group which holds 83.36 pc shares) of Mack Star Marketing Pvt. Ltd. at a very low price causing loss to Mack Star,” the official said.
Earlier ED has already initiated investigation under PMLA against Housing Development Infrastructures Ltd. (HDIL), Rakesh Wadhawan, Sarang Wadhawan, and Joy Thomas, CMD of PMC bank Ltd and others on the basis of FIR registered by Economic Offences wing of Mumbai Police for causing wrongful loss and corresponding gain to themselves prima facie to the tune of Rs 4,355 Crore to PMC Bank.
The ED has already attached properties worth Rs 366.3 crore along with seizure of Rs 63.78 crore value.