Raided by ED, TOPSGRUP denies link with Shiv Sena MLA Sarnaik, party
The Enforcement Directorate, which raided 10 premises in Mumbai and Thane linked to Shiv Sena MLA Pratap Sarnaik and his sons and premises of TOPSGRUP, suspects that companies linked to Pratap Sarnaik and his sons have pumped money into TOPSGRUP’s Rahul Nanda’s businesses and wants to investigate possible money laundering.
TOPSGRUP group chairman and founder Rahul (Diwan) Nanda said, “This is ridiculous! Pratap is a very old friend and has not invested a single penny into my business or company ever! He or Sena has nothing to do with TOPS! This is absolutely absurd and this is again the mischief done by the management who have tried to mislead the ED by making these irresponsible and ridiculous allegations!!.”
Nanda further said, “The ED had questioned us about our UK acquisition in 2009 which we have explained and given them evidences that everything was done 100% legally. They also questioned me about our trust in Mauritius, which again, we have answered and told them that this was created legally by lawyers and that there is ZERO money that is in the Mauritius trust. This was all the mischief played by Ramesh (Iyer), Amar (both top executives of his companies) and the coterie, who complained to the ED and have sent them on a wild goose chase. We have written and told them (authorities) that all fund transfers done in 2009 was done 100% legally with all requisite legal and RBI permissions.
The ED hasn’t yet clarified about the basis of their enforcement case information report (ECIR) which requires a predicate offense be first registered by any other law enforcement agency.
Ramesh Iyer has already filed a complaint against Nanda and family alleging their involvement in irregularities worth Rs 175 crores. Iyer has denied all allegations levelled by Nanda. Nanda, too, has submitted a police complaint against Iyer.