ED attaches assets of Sushil Kumar Shinde's daughter, son-in-law in money laundering case
ED attaches assets of Sushil Kumar Shinde's daughter, son-in-law in money laundering case

The Enforcement Directorate (ED) has attached assets worth over Rs 35 crore of the daughter and son-in-law of former Union home minister Sushil Kumar Shinde in a money laundering case linked to alleged bank fraud.

The central agency said the properties, provisionally attached under sections of the Prevention of Money Laundering Act (PMLA), are "in the form of two commercial properties measuring about 10,550 sq ft area each in the Kaledonia building, Andheri (East), Mumbai." The assets valued at Rs 35.48 crore, the agency said in a statement, belong to businessman Raj Shroff and his wife (Priti Shroff).

Agency sources said Priti Shroff is the daughter of the Congress leader and ex-chief minister of Maharashtra Sushil Kumar Shinde.

Shinde has also served as the Union home minister.

The attachment of assets has been done in connection with a money-laundering probe linked to an alleged bank fraud case linked to HDIL promoters Rakesh Wadhawan and Sarang Wadhawan.

"Rakesh Wadhawan, Sarang Wadhawan and others are being probed for siphoning off the loan to the tune of Rs 200 crore sanctioned by Yes Bank to Mack Star Marketing Pvt Ltd, by showing it for fictitious purpose," the ED said.

Wadhawans "illegally and fraudulently" transferred one commercial property of Mack Star located in Kaledonia Building, Andheri East, Mumbai to Jindal Combines Pvt. Ltd at a price of Rs 9.39 Crore (having a value of Rs 15.64 crore at that time) in 2014 and another commercial property to Orlando Trading Pvt Ltd at the agreement value of Rs 18 Crore (having a value of Rs 19.84 crore) in 2016, it said.

"However, they paid only Rs 10 crore for the second property to date. The firms are receiving rent of Rs 1.76 crore and Rs 1.39 crore per annum for these two properties respectively," it said.

Both the companies, the ED said, are owned by Raj Shroff and his wife in a 50:50 partnership mode. "Thus, Rakesh Wadhawan and Sarang Wadhawan cheated Mack Star Marketing Pvt Ltd by illegally selling above said properties without the consent of the majority shareholder (DE Shaw Group which holds 83.36 pc shares) of Mack Star Marketing Pvt. Ltd. at a very low price causing loss to Mack Star," it said.

The total value of attachment in this case now stands at Rs 69.84 crore.

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