Two scams took place in Maharashtra: The PMC Bank scam where Rs 6,500 crore disappeared and Patra Chawl land scam of Rs 1,034 crore. Both these scams have hurt the common man of Mumbai and Maharashtra; the same ‘Marathi Manus’ that Sanjay Raut of Shiv Sena stands for.
I will try to explain the cases and the linkages of the scams with Sanjay Raut. It’s easy to say that the Enforcement Directorate (ED) is being used by the Centre but it’s important to know the reasons behind the summons.
After reading this, I assure you that the hopelessness and anger against politicians using poor man’s money will come out. I leave this to you if the ED is being used by the Centre for politics by the Centre or its cleaning the system.
PMC Bank Scam September 2019
The fraud at the PMC Bank came to light in September 2019 after the Reserve Bank of India discovered that the bank had allegedly created fictitious accounts to hide over Rs 4,355 crore of loans extended to almost-bankrupt Housing Development and Infrastructure Limited (HDIL).
The ED has filed a money laundering case to probe the alleged loan fraud in the PMC Bank in October 2019 against HDIL, its promoters Rakesh Kumar Wadhawan, his son Sarang Wadhawan, its former chairman Waryam Singh and former managing director Joy Thomas.
The ED and the Economic Offence Wing (EOW) of the Mumbai filed cases against directors.
DHFL promoters Kapil Wadhawan and Dheeraj Wadhawan were booked for flouting the ongoing nationwide lockdown and travelling to Mahabaleshwar with a group of 20 people. The family was trying to evade probe in the Yes Bank case.
An IPS officer, who issued them the pass to travel to Mahabaleshwar from Mumbai with family members and domestic helps, has been suspended for letting this happen. The bureaucrat had issued a letter exempting the Wadhawans from the lockdown norms citing a family emergency.
The state opposition party, the BJP, demanded the resignation of Maharashtra home minister Anil Deshmukh over the favours offered to the Wadhawan family.
Patra Chawl Scam 2010
MHADA (Maharashtra Housing and Area Development Authority) filed a complaint in Patra Chawl case against Sarang Wadhawan as the director of Guru-Ashish Constructions claiming that he had cheated the MHADA and 672 tenants living in 47 acres of Siddharth Nagar’s Patra Chawl in Goregaon.
Guruashish Construction is a subsidiary of HDIL and their directors are Rakesh Wadhawan and Sarang Wadhwan.
Pravin Raut introduced Rakesh as an investor to the previous director of Guru Ashish. Subsequently, Pravin, Rakesh and Sarang were named as directors of the company.
Guru-Ashish Constructions had promised 767 sq. ft. in built-up area to the tenants and a free-sale component of over 2.28 lakh sq. ft. to MHADA in exchange for commercially exploiting some part of the land.
MAHADA’s complaint states that the company misused a July 2011 no-objection certificate given by the MHADA and sub-contracted the project to seven builders illegally.
Pravin Raut wrote to MHADA for permission for sale as it was not permitted as per the agreement. But the sale was made even before communication allegedly was received from MHADA.
The ED added the sale proceeds were siphoned by the Wadhawans and Pravin through accounts of HDIL and its group companies. It claimed there were fund transfers in multiple tranches, mostly of Rs 1 crore each to Pravin’s account in 2008-2010.
The ED claimed that Pravin told the agency that of the Rs 95 crore received by him, Rs 50 crore was against sale of sweat equity and remaining Rs 45 crore was from a land deal at Palghar.
The redevelopment did not take place over and above that MHADA too was not given the free-sale component promised. Total scam is calculated to the tune of Rs 1,034 crore.
Wadhwan was denied bail. In another housing scam, 465 homebuyers were cheated of Rs 131 crore as they were promised homes in ‘The Meadows’ project in Goregaon by October 2014; flats are yet to be delivered.
Pravin Raut, arrested in a case related to alleged irregularities in a chawl redevelopment project in Goregaon, received Rs 95 crore in his bank account from real estate company HDIL between 2008 and 2010 “without any valid reason” and the same was transferred to acquire assets and diverted in the accounts of his business entities, family and others.
The ED charge sheet mentioned that searches were conducted during the probe, resulting in the recovery of documents, including those related to the purchase of plots in Alibag, registered in the name of Varsha Raut, wife of Shiv Sena MP Sanjay Raut, and Swapna Patkar, wife of Sujit Patkar, the MP’s close associate.
The charge sheet also refers to Avani Infrastructure, a partnership firm, where Varsha and Madhuri, the wife of Pravin Raut, are partners with others.
The ED stated that a capital investment of Rs 5,625 was made by Varsha in the firm and her profit share was Rs 14 lakh.
“Rather this, alibi was created by Pravin Raut and Rakesh Wadhawan to create a facade of legitimacy and this amount meant for construction of flats for displaced tenants and homebuyers was illegally transferred. Pravin Raut’s claim of allotment of sweat equity is not reflected in books of accounts of the company and the same has been outright denied by the chief financial officer of HDIL,” the charge sheet stated.
Sanjay Raut Link Emerges
ED officials have found that Pravin Raut had made payment of Rs 55 lakh from the proceeds of crime through his wife’s account to Shiv Sena leader Sanjay Raut’s wife Varsha.
Officials also learnt that hotel accommodation and tickets were booked for domestic as well as international travel of Sanjay Raut and associated persons.
Also, land was bought after the receipt of funds by Pravin Raut in Alibag and a huge amount is suspected to be paid in cash in 2010-2012.
During a search of the residence of Sujit Patkar, who is an associate of Pravin Raut and also closely known to Sanjay Raut, found some Xerox copies of property documents related to Sanjay Raut.
When they checked with sellers of the property, they came to know that the sellers had been coerced to sell the property and the registration of the said land parcels was done at lower prices than market price. The sellers also stated that they received payments in cash other than cheque payments for the properties.
The two brothers of the Wadhwan Group separated.
I have just used both the cases to show connections. My entire research is based on the Economic Times, Times of India, Free Press Journal and Indian Express.
I just want to ask those opposing the ED to check the above facts. Don’t you want a New India?
Himanshu Jain is a political analyst. The views expressed in this article are those of the author and do not represent the stand of this publication.
Read all the Latest News , Breaking News , watch Top Videos and Live TV here.
Comments
0 comment