The Enforcement Directorate (ED) has summoned developer Sudhakar Shetty, chairman of Sahana Group of Companies, in relation to a money-laundering case against late gangster Iqbal Mirchi. Officers said Shetty owns four of the 79 firms used to siphon off ₹12,773 crore from Dewan Housing Finance Corporation (DHFL) through one lakh fictitious customers.
ED conducted a search at Shetty’s residence on Thursday, and the developer was not found there, said officers. “A summons has been issued asking him to appear next week,” an officer said. Shetty did not respond to HT’s calls and messages.
According to ED, DHFL allegedly extended loans to Sunblink Real Estate Pvt Ltd, which purportedly routed money to Mirchi. ED told the court that DHFL came under its scanner when it was examining three properties linked to Mirchi, an aide of fugitive gangster Dawood Ibrahim, in Worli. ED has arrested DHFL promoter Kapil Wadhwan in relation to the probe. “Of the 79 firms [used to route money], four firms belong to Shetty and these transactions are not mentioned in DHFL’s books,” the officer quoted above said.
The alleged link between DHFL and Shetty was also mentioned in the special audit of DHFL done by KPMG, which was appointed by Union Bank of India between April 2015 and March 2019. The report stated: “He [Shetty] is a shareholder in four entities with loan disbursements amounting to ₹2,912 crore...These entities were also disbursed inter-corporate deposits worth ₹1,572 crore.”
{{/usCountry}}The alleged link between DHFL and Shetty was also mentioned in the special audit of DHFL done by KPMG, which was appointed by Union Bank of India between April 2015 and March 2019. The report stated: “He [Shetty] is a shareholder in four entities with loan disbursements amounting to ₹2,912 crore...These entities were also disbursed inter-corporate deposits worth ₹1,572 crore.”
{{/usCountry}}The auditor found that of the 40 entities related to DHFL, 25 had reported minimal operations. “Of the 40 entities, six [with commonalities to DHFL promoter’s entities] had invested ₹2,885 crore in other entities owned by Shetty,” the report stated.
Meanwhile, Wadhawan, who was hospitalised on Thursday, was on Friday sent to judicial custody till he is discharged or till February 3, whichever is earlier.