ED seeks Pravin Raut’s custody in PACL money laundering case

Mumbai: The Enforcement Directorate (ED) has sought permission of the special PMLA (Prevention of Money Laundering Act) court in the city to question Pravin Raut, an accused in Patra Chawl redevelopment scam, in connection with the PACL money laundering case registered in Delhi

Mumbai: The Enforcement Directorate (ED) has sought permission of the special PMLA (Prevention of Money Laundering Act) court in the city to question Pravin Raut, an accused in Patra Chawl redevelopment scam, in connection with the PACL money laundering case registered in Delhi.

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The agency on Saturday approached the special court for permission to take Raut to Delhi. The court was, however, not happy with the agency for taking Kapil Wadhawan and his brother Dheeraj to Lucknow directly from jail without taking formal permission from the court to take them in custody in connection with another case against them.

Therefore, the court said, it would first hear Raut’s lawyer before handing over his custody to the agency. “Considering the episode in respect of Wadhawan brothers and as there is no letter from the court concerned to this court, wherein accused is in judicial custody, it will be proper to allow the accused to submit his say on this application. Till then, he should not be transferred in hurry,” the court said, scheduling the hearing for ED’s plea on Tuesday.

ED had initiated the money laundering probe based on an FIR registered by the CBI which claimed that PACL had allegedly collected ₹49,100 crore from crores of investors on the pretext of sale and development of agricultural land.

It was alleged that PACL transferred ₹2,285.79 crore to one Prateek Kumar, who invested ₹94.61 crore in DDPL Global Infrastructure Pvt Ltd and Unicorn Infraprojects and Estates Pvt Ltd. PACL also transferred ₹110.95 crore in Systematix Venture Capital Trust through its 25 front companies. The amount was again invested in DDPL and Unicorn.

The agency has also alleged that using the funds, DDPL and Unicorn bought land parcels in Maharashtra. They entered into various agreements with several entities for the sale of floor space index and construction of residential-cum-commercial projects from which the two entities generated huge profits.

Raut was taken on board for the projects by DDPL and Unicorn. Investigation revealed that DDPL and Unicorn were to transfer 10 lakh square feet of FSI out of land purchased by Raut after completion of the project. The said FSI transfer was in lieu of settling disputes between original land owners and possession holders to help in acquiring the land, to help in procuring the building material and to handle local contractors and agents and to help in securing approvals.

It was also alleged that DDPL and Unicorn were supposed to transfer the FSI after receipts of all approvals from various government agencies, upon refund of all money of investors and stakeholders and upon refund of loan and advances, if any.

ED said they needed to question him, as he may reveal further trail of proceeds of crime in the case.

Raut is currently in judicial custody in connection with Patra Chawl redevelopment scam. ED’s case is based on a first information report (FIR) registered by economic offences wing (EOW) of the Mumbai police in 2018 against Rakesh and Sarang Wadhawan, promoters of the real estate company, Housing Development and Infrastructure Ltd (HDIL), Guru Ashish Construction Pvt Ltd, a subsidiary of HDIL that undertook the redevelopment of Patra Chawl in Goregaon and its director Pravin Raut among others.

According to ED officials, Guru Ashish Construction had to provide flats to rehabilitate 672 tenants as well as build a certain number of flats for MHADA before selling the remaining area, ED had said earlier.

“The probe revealed that Guru Ashish misled MHADA and collected ₹901.79 crore without constructing the rehab component buildings for 672 displaced tenants and for MHADA. Subsequently, the company launched another project, Meadows, and collected ₹138 crore from flat buyers,” the agency said.

The agency further said that its probe so far has found that around ₹100 crore were transferred from HDIL to the account of Pravin Raut, who was arrested in the case on February 2. This amount was further “diverted” by Pravin Raut, a close associate of the Sena MP, to various accounts of his associates, family members, his business entities etc., ED said.