The premises of businessman Shravan Gupta and 6 different locations had been raided by the Enforcement Directorate (ED) on Wednesday in reference to the VVIP chopper rip-off, officers mentioned. Gupta is former managing director of actual property firm Emaar MGF.
The officers mentioned that Gupta’s premises had been searched to search for proof of cash laundering within the Rs 3,727 crore rip-off. The motion is being taken underneath the Prevention of Money Laundering Act (PMLA), they added.
Gupta or his spokesperson couldn’t be positioned for feedback by the ED throughout raids. He was earlier questioned by the ED in 2016.
Gupta is at present the promoter of realty agency MGF.
Emaar, in the meantime, issued a press release saying Gupta has no function within the firm. “Emaar and MGF had parted ways few years back and Mr Shravan Gupta has no role in Emaar India and is also no longer on the Board of the Company. Emaar India is directly under the control of its parent Emaar Properties PJSC, Dubai, and is fully in compliance with rules and regulations of the law of the land. As a responsible corporate, Emaar India will cooperate with any government agency.”
Officials consider Gupta had hyperlinks with European intermediary Guido Haschke, who performed a key function in bringing the bribe cash to India. Haschke was reportedly a director on the board of Emaar-MGF in 2009.
The officers mentioned that the contemporary motion towards the businessman has come about after sure revelations made by an accused within the case and a few contemporary proof obtained by the company.
The ED slapped cash laundering fees on this case following allegations of irregularities in buy of 12 VVIP choppers from Italy-based Finmeccanica’s British subsidiary AgustaWestland. The deal was scrapped by India in 2014.
The company had seized Gupta’s property price Rs 10.28 crore in 2018 on fees of allegedly holding undisclosed deposits in a Swiss checking account.