ED questions firm’s CEO in Iqbal Mirchi case

The chief executive officer of Sahana Group of Companies, Dayaram Kedia, was questioned by the Enforcement Directorate (ED) in relation with their ongoing probe

The chief executive officer of Sahana Group of Companies, Dayaram Kedia, was questioned by the Enforcement Directorate (ED) in relation with their ongoing probe into a money-laundering case against late gangster Iqbal Mirchi on Tuesday.

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Sudhakar Shetty, chairman of Sahana Group of Companies which has interests in real estate, films, news media, aviation and hospitality, who was earlier summoned in the case, is yet to appear before the agency.

Officers said Shetty allegedly owns four of the 79 firms used to siphon off ₹12,773 crore from Dewan Housing Finance Corporation (DHFL) through one lakh fictitious customers. The agency had conducted a search at Shetty’s residence last Thursday and the developer was not found there, officers said. Confirming the questioning of Kedia, a source said, “We are seeking certain explanations,”. Shetty has not responded to HT’s calls and messages since the searches.

DHFL came under ED’s scanner when it was examining three properties linked to Mirchi 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 has earlier 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.