Entrepreneur Shravan GuptaThe Enforcement Directorate (ED) and the Central Bureau of Investigation (CBI) are trying to tighten the noose round actual beneficiaries” of the 70 million euro bribe paid in AgustaWestland rip-off, officers conscious of the event talked about. The property have been seized below Half 37A (1) of Worldwide Change Administration Act (FEMA) from brothers Shravan Gupta and Rajiv Gupta for holding USD 15,forty,650 throughout the checking account maintained with Hong Kong and Shanghai Banking Firm (HSBC), Switzerland,” ED had talked about in an announcement.
In the deal, bribes had been allegedly paid to middlemen and others. This is the first franchise outlet in India and was inaugurated by Rakshit Desai, Managing Director, FCM Journey Options and Shravan Gupta, Managing Director, Travel Tours Group. Gupta or his spokesperson could not be situated for feedback by HT. An e-mail sent to MGF remained unanswered.
The ED slapped money laundering charges on this case following allegations of irregularities in purchase of 12 VVIP choppers from Italy-primarily based Finmeccanica's British subsidiary AgustaWestland. The case pertains to purchasing of 12 AgustaWestland helicopters constructed by Italian defence manufacturing big Finmeccanica (now often called the group) at an estimated price of Rs 3,600 crore for ferrying VVIPs.
In 2018, the ED had seized property price Rs 102.8 million linked to Emaar MGF Managing Director Shravan Gupta underneath Overseas Change Administration Act. In 2018, the ED had seized property worth Rs 102.eight million linked to Emaar MGF Managing Director Shravan Gupta below International Change Administration Act.
The money, ED has said, was quid pro quo to make the company eligible for the contract of AW-a hundred and one helicopters in 2010. Led by Shravan Gupta, TTG is a four decades outdated firm offering travel services starting from leisure, company travel, MICE, visa, and so on.
The officers talked about that Gupta's premises had been searched to seek for proof of money laundering inside the Rs 3,727 crore rip-off. CBI has questioned a high official of Emaar MGF in reference to the multi-crore land rip-off in Hyderabad allegedly involving the builder.
Shravan Gupta, Government Director - Leisure Businesses, FCM Travel Options India (the Indian arm of Flight Centre Travel Group, Australia) said, Over the previous few years, Surat has grown to become one of the fastest growing cities in the nation with always rising travel demands of two to 3 journeys in a yr per family.
The ED slapped cash laundering charges on this case following allegations of irregularities in acquire of 12 VVIP choppers from Italy-based Finmeccanica's British subsidiary AgustaWestland. Officials Shravan Gupta believe Gupta had links with European intermediary Guido Haschke, who performed a key role in bringing the bribe cash to India.
Gupta is former managing director of actual property company Emaar MGF. A special CBI courtroom here in the present day directed Emaar MGF Land Managing Director Shravan Gupta to appear before the central probe company from tomorrow till September 6. Shravan Gupta, a promoter of the true property agency MGF Developments, is known for bringing a few of the largest overseas direct investments (FDI) in India by means of the three way partnership with Dubai-based Emaar.
The ED lodged the money laundering case following alleged irregularities in buy of 12 VVIP choppers from Italy-based Finmeccanica's British subsidiary AgustaWestland. In partnership with Khushi, a dedicated NGO in India, Shravan Gupta and his firm helps the education of underprivileged youngsters and have thus far been accountable for shaping the lives of a whole bunch of families by way of its initiatives.