Shravan Gupta 2020The Enforcement Directorate (ED) and the Central Bureau of Investigation (CBI) are attempting to tighten the noose round actual beneficiaries” of the 70 million euro bribe paid in AgustaWestland rip-off, officers aware of the event mentioned. New Delhi, Jun 24 (PTI) The Enforcement Directorate (ED) on Wednesday carried out multiple searches on premises of Shravan Gupta, the former managing director of realty major Emmar MGF, and some others in connection with the AgustaWestland VVIP chopper money laundering case, officials said.
A court on Thursday turned down the Central Bureau of Investigation's request to send Shravan Gupta, Managing Director of Emaar MGF, to jail and instead kept in abeyance the non-bailable warrant (NBW) pending against him for non-appearance in Emaar township scam till August 28.
NEW DELHI: The Enforcement Directorate (ED) on Wednesday carried out multiple searches on premises of Shravan Gupta, the former managing director of realty major Emaar MGF, and some others in connection with the AgustaWestland VVIP chopper money laundering case, officials said.
The family business involved financial services for their company MGF, Motor and General Finance Ltd. Mr. Shravan Gupta India's decision changed the whole game of the mall business. The premises of businessman Shravan Gupta and six other places were raided by the Enforcement Directorate (ED) on Wednesday in connection with the VVIP chopper scam, officials said.
Shravan Gupta, a promoter of the real estate firm MGF Developments, is known for bringing some of the largest foreign direct investments (FDI) in India through the joint venture with Dubai-based Emaar. The new board members appointed by the company are nominees of Emaar, the spokesperson said.
Sources say, accused Gautam Khaitan and Guido Haschke have been board members of Emaar MGF in 2009. Shravan Gupta, a promoter of the actual property agency MGF Developments, is understood for bringing a few of the largest overseas direct investments (FDI) in India by way of the three way partnership with Dubai-based Emaar.
Shravan Gupta is registered with Ministry of Corporate Affairs (MCA). Emaar and MGF had parted ways a few years back and Mr Shravan Gupta has no role in Emaar India and is also no longer on the board of the company,” a spokesperson for Emmar India said. The Enforcement Directorate (ED) and the Central Bureau of Investigation (CBI) are trying to tighten the noose around real beneficiaries” of the 70 million euro bribe paid in AgustaWestland scam, officials familiar with the development said.
The kickbacks were then allegedly routed through Rajiv Gupta-owned Mauritius-based company Interstellar Technologies. In 2012, the CBI started probing DDA's Rs 728.89 crore bailout package to the realty major. Earlier, in a separate case pertaining to forex exchange violation, ED had seized Gupta's assets worth Rs 10.28 crore in 2018 for allegedly holding undisclosed deposits in a Swiss bank account.
In its charge sheet in 2015, the ED claimed that it detected flow of alleged kickbacks sent from foreign countries to companies of the accused named in the case — Advocate Gautam Khaitan and cousin brothers of the former IAF chief S.P. Tyagi. The officials believe that Gupta had links with European middleman Guido Haschke, reportedly a director on the board of Emaar-MGF in 2009, who had a major role in bringing the bribe money to India.