The ongoing investigation by Enforcement Directorate (ED) into PMC Bank scam has revealed that the promoters of Housing Development Infrastructures Limited (HDIL) allegedly siphoned off Rs 160 crore to many companies belonging to Viva Group on garb of commission. The financial probe agency claims that source of these funds from HDIL to Viva Group is the illegal fund diversion from PMC Bank.
Viva Group is run by family members of Maharashtra's Vasai MLA and chief of Bahujan Vikas Aghadi, Hitendra Thakur.
On Friday, the ED conducted searches at five premises belonging to the Viva Group and its associates. The searched premises includes registered office of Viva Group in Virar, residential premises of some associates of Viva Group in Virar, one associated office premises of Viva Group in Mumbai's Andheri and two residential premises of two financial consultants of the group in Mumbai's Juhu and Chembur.
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"During searches, Rs 73 lakh cash, incriminating digital and documentary evidences have been recovered," the ED said.
In the past, several properties of Rakesh Kumar Wadhawan and Wadhawan Family Trust and others worth Rs 293 crore were attached by the ED in this case. The agency has also already seized jewellery worth Rs 63.
The ED had initiated investigation under the Prevention of Money Laundering Act (PMLA) against Housing Development Infrastructures Limited (HDIL), its promoters Rakesh Kumar Wadhawan and Sarang Wadhawan, Waryam Singh and Chairman and Managing Director of PMC Bank Joy Thomas.
The investigation was initiated on the basis of an FIR registered by the Economic Offences Wing of the Mumbai Police for causing wrongful loss to the tune of Rs 4,355 crore to PMC Bank and corresponding gain to themselves.
ED has also initiated investigation in another case against Rakesh Wadhawan and Sarang Wadhawan, promoters of HDIL, for siphoning off a loan of Rs 200 crore sanctioned by Yes Bank to Mack Star Marketing Private Limited.
This loan was allegedly siphoned by the Wadhawans by showing it for fictitious purpose. The Central Bureau of Investigation has filed a case in this matter.
"During the investigation under PMLA, it was revealed that the Wadhawans illegally and fraudulently transferred two commercial properties of Mack Star in Kaledonia Building, Andheri East, Mumbai valued at Rs 4.36 crore to Viva Holding, a company of the Viva Group. For the transfer of the said two properties, two separate sale agreements dated June 26, 2017 were prepared wherein sale value for both the commercial properties was shown as Rs 34.36 crore in total," the ED said.
The agency claims that the purchase amount were shown to be paid through 37 cheques by Viva Holding to Mack Star Marketing Pvt Ltd. However, these cheques were never encashed in the account of Mack Star and Viva Holding never made payments for the purchase of property to Mack Star.