Emaar MGF's Shravan GuptaThe 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. In connection with the AgustaWestland VVIP chopper case, the probe agency, Enforcement Directorate (ED), on Wednesday, June 24, carried out raids at premises and six other places belonging to businessman Shravan Gupta, who is former managing director of real estate company Emaar MGF.
The agency in its chargesheet, claimed that Emaar MGF Land Ltd under Chief Executive Srikant Joshi and Managing Director Gupta, did not fix the price of the plots according to the market rate and that some of the plots were blocked through fictitious companies so that they could be sold at a premium.
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.
After Shravan Gupta India graduation from Sri Ram College of Commerce, University of Delhi, he went on to join the family business. The Enforcement Directorate on Wednesday conducted searches at seven locations linked to businessman Shravan Gupta in connection AgustaWestland VVIP chopper deal case.
The investigating agency, under the Prevention of Money Laundering Act (PMLA), searched Gupta's premises for evidence of money laundering in the Rs 3,727 crore scam. Shravan Gupta, Executive Director - Leisure Businesses, FCM Travel Solutions, said, Travel Tours has a strong brand equity and heritage in large parts of the country.
CBI sources said N V Tyagi was part of a team of senior officials who were involved in the deliberations to change the technical specifications of the VVIP helicopters. The Enforcement Directorate today questioned the Managing Director of realty firm Emaar MGF in connection with its probe in the Rs 3,600 crore VVIP choppers deal.
In partnership with Khushi, a committed NGO in India, Mr Shravan Gupta and his company supports the education of underprivileged children and have so far been responsible for shaping the lives of hundreds of families through its initiatives. ED which has been probing the money laundering angle in the case, has summoned cousins of Tyagi after his round of questioning is over besides realty firm Emaar MGF's boss Shravan Gupta.
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.
Emaar India, part of Dubai-based realty major Emaar Properties, has appointed Prashant Gupta as CEO to strengthen its business. The money, Enforcement Directorate has said, was quid pro quo to make the company eligible for the contract of AW-101 helicopters in 2010.