Updated: November 19, 2020 7:06:50 am
During questioning on August 18, 2019, Saxena described how, following the arrest of his wife Shivani Saxena by the DE in July 2017, he had discussions with Ratul Puri “about the need to transfer ownership of (his company) Matrix Emerging Infrastructure Fund Limited “.
From attempting a cover-up after authorities opened an investigation to floating a new company with its personal trainers as shareholders to laundering the proceeds of other defense deals – these are some of the admissions made, states the Enforcement Directorate (ED) , by public accountant Rajiv Saxena, accused key in the AgustaWestland VVIP Helicopter Deal Case, during questioning.
Currently out on bail, Saxena was extradited from Dubai in January 2019 and was questioned by the DE, which attached his assets worth Rs 385 crore, describing them as “proceeds of crime”. The ED has filed an appeal in an attempt to strip Saxena of her approver status for allegedly failing to fully disclose the facts of the case.
READ ALSO | Key Defendant Details How Bribes Were Paid, Links To Kamal Nath’s Nephew And Son
While attaching his assets, including a villa in Dubai and five Swiss bank accounts, the ED stated: “Rajiv Saxena has admitted to laundering the proceeds of crime not only from the AgustaWestland deal but also from various other defense deals.”
In the more than 1,000 pages of interrogation reports, accessed by The Indian Express, Saxena repeatedly claimed that until the investigation began, he did not know that funds parked for him or sent to him by defense trafficker Sushen Mohan Gupta , and Ratul Puri, nephew of former Madhya Pradesh Chief Minister Kamal Nath, and defender Gautam Khaitan were linked to the rewards of the AgustaWestland deal.
But Saxena told her ED interrogators about a cover-up attempt after the AgustaWestland investigation began.
During questioning on August 18, 2019, Saxena described how, following the arrest of his wife Shivani Saxena by the DE in July 2017, he had discussions with Ratul Puri “about the need to transfer ownership of (his company) Matrix Emerging Infrastructure Fund Limited. “He stated that Puri agreed with this decision and consequently his office incorporated a new company, Arboles.
READ | Ravi Shankar Prasad points out details of Agusta and asks why Congress is silent
The shareholders of this new entity were two personal trainers from Saxena who he also said were close friends. “The shares of Matrix Emerging Infrastructure Fund held by Matrix Group (its flagship company) were transferred to this newly formed company, M / s Arboles Investments Ltd. No consideration was exchanged during this share transfer as the beneficial owner continued being Ratul Puri “. Saxena told ED.
He said lawyers had “pressured” him to only answer emergency department questions about the AgustaWestland settlement and nothing else. He claimed that Puri and an accountant also visited him in Dubai for this purpose. “The specific purpose of them visiting me was because I insisted that Ratul Puri clarify the remittances received in my companies, Eurotrade, Pacific International FZC, Midas Metals International and Metolix Limited of Global Services on his own while the Management questioned me about these transactions” , said.
According to Saxena, Puri initially denied having used Global Services FZE to send these remittances to him, but when his accountant “confronted” him with documentary evidence, he admitted that “these transactions have been carried out by his hawala operators. He (Puri) also ordered me not to reveal the same to the Directorate of Execution ”.
Saxena has submitted voluminous documents to the ED: the topic list alone is 10 pages long and explains why the agency gave it approver status.
For example, there are bank account details and bank statements for dozens of offshore companies, many of which are listed in the AgustaWestland investigation. Other documents include notes on payments to Gautam Khaitan; Khaitan’s client list; copies of agreements between UHY Saxena (Saxena’s company) with Thales International; documents for the transfer of shares from Interstellar Holdings to Saxena); Sushen Mohan Gupta’s handwritten diaries and notes showing payments to IDS and Interstellar; IDS statement of accounts signed by Gupta showing receipts and payments; details of remittances received from Global Services FZE.
The details presented also include supplemental credit card statements that Saxena obtained from his Swiss bankers for Ratul Puri’s “personal expenses.” The documents contain inquiries raised by the bank, Coutts & Co, about large transactions that they deemed “doubtful.”
During her questioning, Saxena told the emergency department: “Ratul Puri had this card issued by me in his name to prevent the disclosure of these expenses in India. The financing of these costs incurred by him would be compensated with remittances through third parties ”.
Interrogation transcripts also reveal the nature of the findings during a search of the Emergency Department of the facilities of Niamat Bakshi, a close confidant of Ratul Puri, on September 7, 2019. Email dumps recovered during the search did not they were presented by Saxena to the Emergency Department.
When asked about the transactions in these, Saxena admitted the existence of several other offshore entities that it had been “managing” for Puri as beneficial owner. He named the companies as Continental Administration Services Ltd; Technical Trade; Maxima Software Pvt Ltd; Questside Management Limited; Bronson Financial Inc.
There are also more than 200 pages of details and agreements on the transfer of registered ownership of a group of offshore companies, mostly incorporated in Mauritius, with the name of Pangea to that of a Saxena company. This was because the Swiss nominated shareholder of the entity had passed away and Saxena was asked to carry out a “holding operation” on behalf of Puri and his family.
Saxena told ED that the entities involved in the transfer of Pangea’s registered ownership were Mountwood Foundation, Simlane Foundation, Cavendish Ventures Limited, Techstone Limited, Hendon Global Limited and Bronson Financial Services. Email exchanges for transfers to some of these entities were those found during the ED search at the Niamat Bakshi facility.
.
