New Delhi: The Enforcement Directorate (ED) has recorded the statement of Sudhakar Reddy, Chairman of Sahana Group, in connection with the money laundering case involving late drug smuggler Iqbal Mirchi, said sources. The ED, however, is not satisfied with the answers given by Shetty, who is likely to be summoned again for further questioning.
Sudhakar Shetty is being questioned in the case, wherein, money worth Rs 3,000 crore was diverted into 6 shell companies controlled by him. Reddy had reportedly helped in the diversion of funds from Dewan Housing Finance Ltd (DHFL).
Notably, DHFL chairman and managing director Kapil Wadhawan had created several shell companies and diverted fund, around Rs 2,186 crore, which were used to purchase properties of Iqbal Mirchi in Worli area through Sunblink Real Estate Ltd, according to the ED probe.
Sudhakar Shetty had direct links with 4 shell firms and was indirectly linked with 15 other shell companies, out of 79 shell firms, that were used to give fictitious loans of Rs 12,773 crore to one lakh bogus persons or entities, said the sources.
The ED is probing Kapil Wadhawan's alleged role in the money laundering case related to Iqbal Mirchi. The probe agency arrested Kapil while investigating the transactions of Sunblink Real Estate, linked to Iqbal Mirchi, as the company received a loan of Rs 2186 crore from DHFL.
Earlier this month, the ED had recovered several incriminating documents during its raid on Sahana Group chairman Sudhakar Reddy's residence and office in connection with the alleged money laundering probe against gangster Iqbal Mirchi.
Sudhakar Shetty, who once owned the infamous Deepa dance bar in Vile Parle (W), entered the construction business over a decade ago with a firm named as Sahana Group. Currently, he is developing several big-ticket projects in partnership with prominent builders. Many of his projects are facing allegations and some of them are also under litigation.
