The Enforcement Directorate has arrested businessman/actor Sachin Joshi in connection with a money laundering case against Mumbai-based realty group Omkar Realtors and Developers.
Joshi has acted in movies like Mumbai Mirror and Sunny Leone-starrer Jackpot. In 2017, Joshi purchased Vijay Mallya's Goa bungalow--Kingfisher Villa for over Rs 73 crore.
Joshi is stated to be an actor and a promoter of the JMJ business group. He was arrested after ED found questionable monetary transactions between the JMJ group and Omkar Realty. He will be produced in the special Prevention of Money Laundering Court (PMLA) in Mumbai on February 15.
Last month, ED arrested the chairman of Omkar Realtors and Developers, Kamal Kishore Gupta and MD Babulal Varma (managing director) after raids were carried out against them and the group.The PMLA case pertains to alleged irregularities in the execution of the SRA (slum rehabilitation authority) scheme in the development of a housing society in Mumbai. The company and the two executives are also facing allegations of "diverting" over Rs 400 crore loan from Yes Bank.
The ED case has been filed after studying an FIR of Aurangabad (Maharashtra) district police. The ED had quoted the police FIR to say that "Omkar Realtors and Developers Pvt Ltd and its directors bought a firm 'Surana Construction' which had SRA rights for re-development of Anand Nagar SRA Cooperative Housing Society in Mumbai's Wadala area".
"However, Omkar and its promoters did not pay back the amount due to the seller and also mortgaged future FSI (floor space index) of the said SRA project and took huge amounts of loans," it said. The ED also claimed its probe found that "loans to the tune of Rs 410 crore were diverted and not used for intended purposes".
"No work of SRA building was undertaken. The requisite rules and procedures under SRA were ignored by the accused and documents relating to names of slum dwellers were forged to claim more FSI for mortgaging the same with banks for taking the loans," the ED had alleged.
(With PTI inputs)