Patra Chawl redevelopment case: ED attaches Rs 73.62 cr assets of Sanjay Raut's close aide, Pravin Raut
- In Reports
- 10:03 PM, Apr 24, 2024
- Myind Staff
The attachment of immovable properties worth ₹73.62 crore in the Patra Chawl redevelopment case, allegedly belonging to Pravin Raut, underscores the ongoing scrutiny by the Directorate of Enforcement (ED) in matters linked to political figures. This move implicating Pravin Raut, who is purportedly a close associate of Shiv Sena (UBT) leader Sanjay Raut, further intensifies the spotlight on political connections within such cases. It signals the ED's commitment to investigating and taking action against alleged financial irregularities, irrespective of the individuals involved.
The Mumbai branch of the ED seized these properties utilizing the legal framework outlined in the Prevention of Money Laundering Act (PMLA), 2002. These properties, comprising various land parcels owned by Pravin Raut, who is closely associated with Sanjay Raut, were located in and around Palghar, Dapoli, Raigad, and Thane regions of Mumbai.
The case concerns discrepancies observed in the redevelopment of the Patra Chawl Project located in Goregaon, Mumbai, which was undertaken by Guru Ashish Construction Pvt Ltd (GACPL). Following an FIR filed by the Economic Offences Wing (EOW), Mumbai, under multiple sections of the Indian Penal Code, 1860, against GACPL, Rakesh Kumar Wadhwan, Sarang Kumar Wadhwan, and others, prompted an investigation by the ED. This investigation stemmed from a complaint lodged by the Executive Engineer of Maharashtra Housing and Area Development Authority (MHADA), Mumbai, and a subsequent chargesheet filed on December 11, 2020.
According to the ED, their investigation unveiled substantial financial misconduct involving Guru Ashish Construction Pvt Ltd (GACPL), which was assigned the task of redeveloping the Patra Chawl Project to accommodate 672 tenants. The ED noted that a tripartite agreement had been executed among MHADA, GACPL, and the developer. Per the agreement terms, GACPL was obligated to furnish flats for the 672 tenants, construct additional flats for MHADA, and subsequently sell the remaining land area.
The directors of GACPL allegedly deceived MHADA, utilising fraudulent means to sell the Floor Space Index (FSI) to nine developers. This resulted in them pocketing around ₹901.79 crore, without fulfilling their obligation to construct the rehabilitation portion for the 672 displaced tenants and the flats earmarked for MHADA. Additionally, the ED's probe found that a portion of the illicit proceeds, totaling ₹95 crore, was redirected by Pravin Raut, a Director of GACPL, into his personal bank accounts.
The ED indicated that a portion of the proceeds was used by Pravin Raut to procure various land parcels directly from farmers or land aggregators, either in his name or under his firm, Prathmesh Developers. Additionally, he allegedly parked some of the proceeds with associated individuals and entities. Furthermore, certain properties obtained by Pravin Raut through these illicit funds were subsequently gifted to his family members. The ED has identified these proceeds of crime, including land parcels acquired from farmers, gifted properties to family members, and properties equivalent to the diverted proceeds, totaling ₹73.62 crore. These assets have been attached as part of the Proceeds of Crime (POC) investigation.
Previously, in this case, the ED disclosed that assets valued at ₹11.15 crore, belonging to Pravin Raut and Sanjay Raut, were seized. These assets were identified as part of the ₹95 crore Proceeds of Crime received by Pravin Raut. Additionally, assets totaling ₹31.50 crore, in the form of properties in Goa, owned by Rakesh Kumar Wadhawan and Sarang Wadhawan, were also attached by the ED. Consequently, the ED has now attached immovable properties worth a total of ₹116.27 crore in this case.
During the course of the investigation, Pravin Raut and his associate Sanjay Raut were arrested under the Prevention of Money Laundering Act (PMLA) on February 2, 2022, and August 1, 2022, respectively, for their alleged involvement in the money laundering offense.
Currently, both accused individuals are out on bail, which was granted by the Special Court under the PMLA on November 9, 2022. On March 31, 2022, the ED filed a Prosecution Complaint before the Special Court for PMLA against Rakesh Kumar Wadhawan, Sarang Wadhawan, Pravin Raut, and Guru Ashish Construction Pvt Ltd.
Additionally, a supplementary Prosecution Complaint was lodged on September 15, 2022, before the Special Court under the PMLA. This complaint targeted Rakesh Kumar Wadhawan, Sarang Wadhawan, Pravin Raut, Guru Ashish Construction Pvt Ltd, and Sanjay Raut. The Special PMLA Court has acknowledged and taken cognisance of this supplementary complaint.
Image Source: ANI
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