BJP MP’s firm gave `3cr loan to Adarsh: Promoter

One of the promoters of the controversial Adarsh society, Brigadier (retd.) MM Wanchoo, told the Adarsh inquiry commission on Wednes-day that the society took a Rs. 3-crore loan from San Finance Corporation, which has BJP MP Ajay Sancheti on its board.

One of the promoters of the controversial Adarsh society, Brigadier (retd.) MM Wanchoo, told the Adarsh inquiry commission on Wednes-day that the society took a Rs. 3-crore loan from San Finance Corporation, which has BJP MP Ajay Sancheti on its board.

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Sancheti is a close aide of BJP president Nitin Gadkari.

The role of the Sancheti family came under the scanner after it was found that their driver owned a flat in the society. Paramvir, Sancheti’s nephew and son of another director of the firm, Abhay Sancheti, is also a member of the Colaba society.

The Nagpur-based firm has also financed 10 society members in the purchase of their flats, Abhay Sancheti has disclosed in an affidavit filed earlier.

“The society took a loan from San Finance Corporation, but I don’t know the amount,” Wanc-hoo said, after which he was shown documents that revealed the amount to be Rs3 crore.

Wanchoo said the society did not mortgage anything to the firm for the loan. It used the loan to pay the Mumbai Metropoli-tan Region Development Authority for the extra Floor Space Index it needed to buy for building a taller structure.

“I don’t know if any person from San Finance Corporation is a member of Adarsh,” Wanch-oo said.