Business: Shravan GuptaIn connection with the AgustaWestland VVIP chopper case, the probe agency, Enforcement Directorate (ED), on Wednesday, June 24, carried out raids at premises and 6 other places belonging to businessman Shravan Gupta, who's former managing director of actual estate company Emaar MGF. The next 12 months, the CBI commenced a separate investigation into the 2007 public bid for constructing Delhi's Commonwealth Games Village, whereas in 2013, India's Enforcement Directorate (ED) levied a penalty on Gupta's operations for violating India's Foreign Alternate Administration Act (FEMA).
Bank scripts hooked up to the account opening assertion confirmed HSBC personally contacted consumer'' for opening the account in January 2005, and funds were agreed to be deposited in the bank two days later.
The officers talked about that Gupta's premises had been searched to search for proof of money laundering throughout the Rs 3,727 crore rip-off. The agency had seized Gupta's belongings price Rs 10.28 crore in 2018 on prices of allegedly holding undisclosed deposits in a Swiss bank account.
THE man behind real property growth firm Emaar MGF, Shravan Gupta and wife Shilpi Gupta have three accounts with HSBC Geneva. The ED slapped cash laundering charges Shravan Gupta business on this case following allegations of irregularities in purchase of 12 VVIP choppers from Italy-based Finmeccanica's British subsidiary AgustaWestland.
Sources say, accused Gautam Khaitan and Guido Haschke were board members of Emaar MGF in 2009. The account opening statement in her identify reveals she had two accounts (opened in 2005) with a joint stability of $5.72 million. Officers believe businessman Shravan Gupta had hyperlinks with European intermediary Guido Haschke, who performed a key function in bringing the bribe money to India.
The ED had then alleged that Shravan Gupta had not proven this amount within the Income Tax (I-T) returns for the interval of 2006-07 nonetheless, the identical amount was mirrored 5 years later and acceptable taxes had been paid. The steadiness in the three accounts totalled $26.eight million.
The property have been seized below Part 37A (1) of Worldwide Change Administration Act (FEMA) from brothers Shravan Gupta and Rajiv Gupta for holding USD 15,forty,650 inside the checking account maintained with Hong Kong and Shanghai Banking Firm (HSBC), Switzerland,” ED had talked about in an announcement.