New Delhi: The Enforcement Directorate (ED) in its probe has come to know that Sudhakar Shetty, Chairman of Sahana Group, had helped in the diversion of funds from Dewan Housing Finance Ltd (DHFL), sources told Zee Media.
The ED probe found that 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 underworld don Iqbal Mirchi in Worli area through Sunblink Real Estate Ltd.
The sources further informed that the ED probe also found that the money was paid to Mirchi in India, according to his brother Aslam Merchant, was around Rs 111 crore, while Rs 150 crore was paid through hawala channels in Dubai to Mirchi. Notably, payment of Rs 150 crore is not reflected in any balance sheets of DHFL.
Sudhakar Shetty had direct links with 4 shell companies and indirect links in about 15 other shell companies out of 79 shell firms that were used to award fictitious loans of Rs 12,773 crore to as many as one lakh alleged bogus persons or entities.
Notably, the ED is probing Kapil Wadhawan's alleged role in the money laundering case related to Iqbal Mirchi. Kapil's was arrested as the ED is investigating the transactions of Sunblink Real Estate, linked to Iqbal Mirchi, as it received a loan of Rs 2186 crore from DHFL.
Kapil Wadhawan had bought shares in 5 companies identified as Faith Realtors Pvt Ltd, Marvel Township Pvt Ltd, Able Realty Pvt Ltd, Poseidon Realty Pvt Ltd, and Random Realtors Pvt Ltd.
These companies were then given loans from DHFL without following any procedure, collaterals or KYC rules.
In a bid to create papers or documentation for the properties bought from Mirchi, the price of the property was inflated manifolds and this amount was secured against the property.
The ED suspects that part of the diverted amount has been used to make payments to Iqbal Mirchi.
Earlier this month, several incriminating documents were recovered by the ED during the raid on Sahana Group chairman Sudhakar Reddy's residence and office in connection with the alleged money laundering probe against gangster Iqbal Mirchi.
The documents also revealed details of monetary transactions between Sudhakar Reddy and several politicians, who include a former Haryana minister and some ex-ministers belonging to Maharashtra Congress. These lenders were allegedly part of the financial dealings with Shetty.
Sudhakar Shetty had reportedly spent several crores during the marriage of a relative of a former Haryana chief minister. Shetty has been grilled by the ED sleuths over the alleged financial transactions.
Shetty's residence and office were raided on January 30, 2020, and the ED recovered several bank account statements, documents related to his companies, pen drives, and computer hard disks.
The ED also unearthed details related to more than 20 shell companies run by Shetty.
On January 27, 2020, the ED had arrested DHFL chairman Kapil Wadhawan for his alleged role in the money laundering case related to Iqbal Mirchi. Iqbal Mirchi died on August 14, 2013, in London.
