February 3 2016
The Enforcement Directorate has claimed to have unearthed a dubious chain of companies that were allegedly used by Sameer Bhujbal for money laundering. According to the ED, a number of “non-existent” companies had invested money in the firms controlled by the Bhujbals. The ED has also registered the statements of several people, including the charted accountant of the Bhujbals’ Mumbai Educational Trust (MET), who were involved in routing alleged black money back in the financial system using hawala transactions.
Sunil Naik, CA of MET, has told the ED shares of Pravesh Constructions Private Limited and Armstrong Energy Private Limited, which were owned and controlled by the Bhujbals, were sold to “dubious entities” against cash at “unrealistic high premium” of Rs 9,900 per share, while the share value was a mere Rs 100 each. Rs 125 crore was channeled in these companies by this method, Mr Naik is said to have told the ED.