Earlier this year, the probe agency had searched the office premises of Omkar Realtors and Joshi and arrested Varma and Gupta on January 27 and Joshi on February 14 for their alleged involvement in the case.
The Enforcement Directorate (ED) on Thursday filed its prosecution complaint (chargesheet) in the alleged money laundering case against the promoters of Omkar Realtors and Developers Pvt Ltd and actor Sachin Joshi in Mumbai.
The ED case is based on an FIR registered by Aurangabad police against Omkar promoters Babulal Varma, Kamal Kishore Gupta; and a few others “for cheating and diversion” of a Rs 410 crore loan taken by the real estate firm from Yes Bank Ltd for the redevelopment of Anand Nagar slum rehabilitation authority (SRA) project.
“It was found that as per the terms and conditions of Yes Bank, the loan amount of Rs 410 crore was to be utilized for the construction of rehab buildings at Anand Nagar SRA, Wadala. However, instead of constructing SRA buildings, the whole amount of Rs 410 crore was diverted by the accused to group companies,” said the ED in a statement.
Out of the total loan, at least Rs 80 crore was allegedly diverted to Sachin Joshi and his firm Viiking Group of Companies in the “guise of service fee and investment”.
“During the investigation it was found that neither Sachin Joshi nor his companies were ever engaged in any such business and the said transactions were found to be sham,” said the ED.
Earlier this year, the probe agency had searched the office premises of Omkar Realtors and Joshi and arrested Varma and Gupta on January 27 and Joshi on February 14 for their alleged involvement in the case. Recently, the Bombay High court rejected the bail applications of Varma and Gupta. All three are currently in jail.
Joshi and his firms have also come under the scanner of the Income Tax (I-T) department for unaccounted transactions of Rs 1,500 crore. The tax department has also found a company located in BVI linked to Joshi.
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