After Money Laundering Probe, Jet Airways Ex-Chairman Naresh Goyal Faces Investigation Over Below-Market Sale Of Heritage Property

Beleaguered Jet Airways chairman Naresh Goyal arrested for alleged money laundering is now under probe for the sale of his Colaba residence in a heritage structure earlier in April below market value. The revenue officials got alerted about under valued transaction after the civic authorities issued notices to the new owners for allegedly illegal alterations done in heritage property.

The 2600 sq ft property on the ground floor of the heritage Amarchand Mansion off Madam Cana Road in upscale Colabq belonged to Jet Airways chairman Naresh Goyal and sold to the trio of Farhad Fali Bomanjee, Rashid Yousuf Zaveri and Varun Bangera in April 2023 for Rs 10.50 crore while he was under investigation by the Enforcement Directorate and CBI.

The new owners further gave the prime ground floor property to Aetas Retail Pvt Ltd on five years lease for Rs 8.22 crore.

The designated officer A Ward Assistant Municipal Commissioner Jaydeep More in October issued stop work notice for illegal alteration and violation of heritage rules and remove all the structures erected without authorisation in 24 hours. The A ward officials remained tight lipped on the action taken on the illegal alteration in a heritage structure and claimed that

The BMC had written to the Colaba Police station to remove all persons carrying out the illegal alteration and brick masonry work when the stop work notice was ignored by the contractors and new owners.

'Alterations continue surreptitiously despite notice'

The Amarchand Mansion Cooperative Housing Soc Ltd also flagged the issue of violation of heritage rules and refusal to comply with the BMC stop work notice endangering the structural stability of the heritage structure.

“The flat owners Farhad Ali Bomanji, Rashid Yusuf Zaveri and Varun Bangera have been asked to immediately stop the ongoing construction work there,” confirmed senior civic official in the BMC. The civic officials also claimed that BMC team from A ward had inspected the violation and illegal alterations done in the heritage structure. An inspection report submitted by the BMC team reported that the ongoing construction work and alteration on the ground floor could prove to be a threat to the structure of the building.

“Despite BMC stop work notice, the alterations continue surreptitiously late night and civic official pass the buck to the police for not removing the workers and labourers from the premises,” lamented another resident.

Published on: Friday, December 01, 2023, 09:49 PM IST