On Friday, the ED attached properties worth Rs 72 million from businessman Pravin Raut in the HDIL-PMC bank money laundering case and said Rs 55 lakh of the tainted money was transferred to Varsha Raut through Madhuri, Pravin Raut’s wife.
A press release issued by the ED on Friday said: “The investigation also revealed that Pravin Raut paid Rs 1.6 crore to his wife Madhuri with proceeds of crime. From that money, Madhuri Raut transferred Rs 55 lakh (Rs 50 lakh in December 23, 2010 and Rs 5 lakh on March 15, 2011) as an interest-free loan to Varsha Raut. The amount was used for the purchase of a flat in Dadar (East). The investigation further revealed that Varsha and Madhuri are partners in Avani Construction. Varsha Raut has received Rs 12 lakh from this entity (as overdraft capital converted to loan) with a contribution of only Rs 5,625. The loan amount of Rs 12 lakh is still outstanding. ”
The Emergency Department called Varsha Raut for his deposition in the case on January 5. Sanjay Raut was not available for comment, but on December 28, in response to a subpoena to his wife from the Emergency Department, he said that the Emergency Department wanted some papers and had submitted those. Varsha Raut was first called by the emergency department on December 29, but did not show up to the agency.
According to the ED statement, Pravin Raut has diverted Rs 95 million through HDIL in an active conspiracy and collusion with various people. The source of the funds was illegal loans, etc. of HDIL from PMC Bank.
ED’s investigation is based on an FIR from the Mumbai Police Economic Crimes Wing registered against Rakesh Kumar Wadhawan, Sarang Wadhawan of Housing Development Infrastructure Ltd, President of PMC Bank Waryam Singh, and their Managing Director Joy Thomas and others for causing losing Rs 4,355 crore to the bank and earning themselves.
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