ED attaches properties of Uddhav Thackeray’s brother-in-law
The Hindu
The agency has attached immovable assets worth ₹6.45 crore in the case of Pushpak Bullion Private Limited
The Enforcement Directorate (ED) on Tuesday provisionally attached immovable properties belonging to Maharashtra Chief Minister Uddhav Thackeray’s brother-in-law Shridhar Madhav Patankar.
As per a release, the ED attached immovable properties worth ₹6.45 crore in the case of Pushpak Bullion Private Limited, one of the group companies of Pushpak Group. It includes 11 residential flats in the Neelambari project, Thane belonging to Shree Saibaba Grihanirmiti Private Limited owned and controlled by Mr. Patankar.
On March 6, 2017, the Central agency had recorded a money laundering case against Pushpak Bullion and group companies under the Prevention of Money Laundering Act (PMLA) and had provisionally attached immovable and movable properties of Pushpak Bullion to the tune of ₹21.46 crore. They belonged to Mahesh and Chandrakant Patel (director of Pushpak Bullion) and their family members.
Investigation has revealed that Mr. Mahesh Patel had siphoned off and layered funds of the Pushpak group concern, Pushpak Realty, in connivance with Nandkishore Chaturvedi (an accommodation entry provider). Pushpak Realty Developer, in the garb of sale, transferred funds to the tune of ₹20.02 crore to the entities controlled by Mr. Chaturvedi after layering it through various connected/ unconnected entities.
As per the ED, Mr. Chaturvedi operates a number of shell companies that are used to transfer money from Humsafar Dealer Private Limited in the garb of extending unsecured loans of ₹30 crore to Shree Saibaba Grihanirmiti Private Limited. Thus, the money siphoned off by Mr. Mahesh Patel in connivance with Mr. Nandkishore Chaturvedi was parked in the real estate projects by Shree Saibaba Grihanirmiti Private Limited, claimed the ED.
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