MUMBAI: The Enforcement Directorate (ED) has accused Dewan Housing Finance Corp. Ltd (DHFL) promoter Dheeraj Wadhawan of being the prime mover of a property deal between an organization linked to him and erstwhile drug lord Iqbal Memon alias Iqbal Mirchi. The ED, which is investigating a cash laundering-terror funding case towards Memon, can be inquiring into the actual property deal.
In a 7,000-page chargesheet filed earlier this month, the company has detailed how Wadhawan used DHFL to pay greater than Rs 110 crore to Memon. Additionally, funds to the tune of 128.5 million UAE dirhams (roughly Rs 154 crore) had been made to Memon by way of Tradition Property LLC, a Dubai-based firm wherein Wadhawan was a director till 2008.
Wadhawan didnt reply to a number of queries.
DHFL is present process chapter decision.
The cash laundering case pertains to Memons Mumbai properties, that are being handled by the ED because the proceeds of crime. Three such properties had been offered to Sunblink, the corporate linked to Dheeraj Wadhawan. The latter has advised the ED that he didnt know Memon was a wished man however the company stated he had been alerted about this by his certainly one of his brokers.
The prosecution grievance, equal to a chargesheet filed by the ED, said that Wadhawan went forward regardless of being alerted by his dealer Chandresh Jhunjhunwala that Memon was wished by the federal government of India (GoI).
Ten-12 days after the go to (Wadhwans assembly with Iqbal Mirchi in London in Might 2010), Jhunjhunwala got here to know that Iqbal Memon is also called Iqbal Mirchi, who was linked to the underworld and wished by the GoI, in accordance with the grievance, which ET has seen. Dheeraj advised them that nothing will occur and requested them to finish the deal.
Wadhawan and his brokers met Memon in Dubai and London between March and August 2010. He was additionally invited to the marriage of Iqbal Memons son Junaid Memon, additionally an accused within the case.
After their fathers dying in 2013, Junaid and youthful brother Asif negotiated the deal.
After Mirchis take care of the earlier supplier didnt materialise, Wadhawan confirmed curiosity within the property. Wadhawan desired to fulfill the precise proprietor i.e. Iqbal Mirchi. Accordingly, Jhunjhunwala and one other accused Humayun Service provider went to London on March eight, 2010, to fulfill Mirchi. The tickets for a similar had been organized by Wadhawan, stated the grievance. Bindra and Wadhawan went to London on March 10 and a gathering was held on March 11 round four pm at Dockmaster Restaurant On this assembly the deal was locked for an quantity of Rs 200-225 crore.
Brother Kapil Wadhawan additionally travelled to London however didn’t take part within the assembly with Mirchi. The connection between Dheeraj Wadhawan and the Memons was nearer than an expert affiliation. Dheeraj Wadhawan was amongst the chosen few invitees from India (for Junaid Memons wedding ceremony). This clearly establishes very deep relation between Mirchi and sure accused, in accordance with the chargesheet.
Dheeraj Wadhawan has advised the ED that he didnt know the properties belonged to Menon or his members of the family.
He’s not conscious of the information that the properties belong to Memon or his members of the family. He negotiated solely with Service provider, Harun Yusuf and Jayant Soni (co-accused) and met sons of Iqbal Junaid and Asif in Mumbai on two events with reference to authorized notices despatched by his advocate to make clear their declare into the stated properties, in accordance with the chargesheet. They haven’t paid any abroad funds for the stated deal to Iqbal Mirchi or his members of the family or associated firms He had shaped Tradition Property LLC in April 2007 and exited the identical in August 2008… He began Dheeraj & East Coast LLC together with his native associate in 2006 and exited the corporate in 2009.
Defence legal professionals have sought bail for his or her shoppers now that the ED has filed a chargesheet.
From the perusal of the grievance the ED alleges that Mirchi dedicated sure scheduled offences in 1993 and cash therefrom had been used to buy sure properties, in accordance with Sujay Kantawala, Humayun Service providers lawyer. It’s the additional case of ED that the identify of the son of Humayun Service provider was misused and fictitious financial institution accounts had been opened in identify of Musharraf to route cash associated to stated properties. Nonetheless, the son is exonerated as he’s discovered sufferer of identification theft and misuse and appropriately he’s handled as a witness. Because the grievance is filed in an alleged offence attracting most seven years punishment, it’s now a match case for bail and I see a transparent case for an honourable discharge within the close to future.
Sunblink Actual Property, among the many accused, was allegedly floated by Wadhawan to facilitate the acquisition of three Worli-based properties belonging to Iqbal Memon, which the company has recognized as proceeds of crime. An settlement was reached between Memon and Sunblink on March 25, 2010, after the London assembly. Out of the Rs 225 crore that was agreed upon, Rs 170 crore was to be paid to Menon by means of hawala channels and offshore firms, the chargesheet said.
Supply of the stated quantity paid in India, i.e. Rs 111 crore, in direction of the stated deal was organized from DHFL and RKW Builders Pvt. Ltd, in accordance with the chargesheet.