The Enforcement Directorate (ED) took a big action in Mumbai on Tuesday. ED has temporarily attached 11 residential flats of Pushpak Bullion in a real estate project developed by Shree Saibaba Grihiniramiti Pvt Ltd. Sridhar Madhav Patankar is the Promoter of Saibaba Grihiniramiti Private Limited Company. The ED proceedings are believed to be on Maharashtra Chief Minister Uddhav Thackeray as Patankar is the brother of Uddhav Thackeray’s wife Rashmi Thackeray.
ED has taken action against Pushpak Bullion in money laundering case. The allegation against Bullion is that the company at the time of demonetisation (between November and December 2016) had accepted old Rs 500 and Rs 1000 notes worth Rs 84.5 crore against 258 kg of gold. The ED claims that Pushpak Bullion gave Rs 30 crore more unsecured loans to Mr. Saibaba Grihiniremiti than the income.
The ED, in its statement, said the attached properties include 11 residential flats in a real estate project named Nilambari in Thane, promoted by Shri Saibaba Grihiniramiti. The cost of the flats is said to be around Rs 45 crore. Mahesh Patel in association with Nandkishore Chaturvedi has committed fraud in the transactions of Pushpak Realty, a company of Pushpak Group. Nandkishore runs several shell companies.
Maharashtra Environment Minister Aaditya Thackeray said on this matter, “I was inside the assembly. I don’t know much. I will collect the information and then make a comment.” At the same time, Minister in Maharashtra Government Eknath Shinde said on the ED’s proceedings that, “These are acts of retaliation against us. Such use of central investigative agencies is harmful to democracy. BJP is working to obstruct the work of Mahavikas Aghadi government and destabilize the government. Shiv Sena is not afraid of such action. The government will continue its work.”
The ED had registered a case against Pushpak Bullion in March 2017. The agency said it found that post-demonetisation in November 2016, old notes worth Rs 84.5 crore were deposited in the bank accounts of two jewelery firms, Pihu Gold and Satnam Jewellers. After that money was transferred to Pushpak Bullion to buy 258 kg of gold. The ED claimed that the Pushpak group admitted that both the companies were formed to transfer demonetised currencies and were fake companies.