New Delhi: Days after revelations of Bharatiya Janata Party (BJP) President Nitin Gadkari's former driver being the director of some of the alleged benami companies that funded Gadkari's company, CNN-IBN has now accessed more documents. The documents show that four of Gadkari's very close aides, including his former driver and accountant, have been directors in at least 26 companies and that too within a period of the past four years.
Gadkari's former driver, Manohar Panse was a director in 11 companies between 2009 and 2011. Gadkari's very close aide, Kawdu Zade, has been a director in 16 companies in the same period. Purti employee Nishant Agnihotri has been a director in 13 companies
A very close aide, Sagar Kotwaliwale has been a director in 9 companies. Like the controversial Purti Sugar and Power Private Ltd. in Nagpur, there are three more companies controlled by the 4 close aides of Gadkari.
CNN-IBN had on Thursday also accessed details of one of the alleged shell companies that invested in Gadkari's Purti Group. Regency Equifin Pvt Ltd interestingly has Gadkari's accountant Kawu Zade and other employees in Purti as directors.
Also, records show that Regency Equifin both borrowed from and lent money to Gadkari. The company bought shares worth Rs 4 crore in Gadkari's Purti Group in 2008. The 2008-09 balance sheet of Regency Equifin shows Gadkari gave unsecured loans of Rs 26 lakh. In 2011, the balance sheet of Regency Equifin shows that the loss-making Purti gave Rs 95 lakh to it.
The Income Tax department on Thursday began probe into Purti Power and Sugar Ltd (PPSL). I-T authorities said they will also probe source of funds of the 18 companies that invested in Purti. Prima facie evidence suggested that shell companies had invested in Purti. Sources said that if necessary Gadkari might also be summoned in the case.
"I-T departments of Mumbai and Pune have started their probe into Gadkari's Purti Power and Sugar Ltd," sources said. The agency is also expected to submit a report to Central Board Direct Taxes (CBDT) soon.
The 18 companies will be summoned in due course. I-T department sources said that it would be very difficult to prove the quid pro quo. "If necessary Gadkari might also be summoned but that call will be taken by investigating officer in due course of the probe. I-T has already started gathering documents relating to these companies," said sources.
"We will trace the source the funds of the companies including the 18 companies that invested in Purti," a top I-T official said on condition of anonymity. He said prima facie 'shell' companies (inactive firms used as a vehicle for various financial manoeuvres or kept dormant for future use in some other capacity) had pumped money into PPSL.
Gadkari is at the centre of a raging controversy over funding of PPSL with media reports claiming that major investments and large loans to Purti were made by Ideal Road Builders (IRB) group, which had won contracts between 1995 and 1999, when the BJP chief was PWD minister in Maharashtra.
Reports also claimed that shell companies were floated for making investments and their fake addresses were submitted to the Registrar of Companies. On Tuesday, Corporate Affairs Minister Veerappa Moily had said that Registrars of Companies would inquire into the allegations. On his part, Gadkari has denied the allegations and said he was prepared for a probe.
CNN-IBN has accessed details of one of the alleged shell companies that invested in BJP President Nitin Gadkari's Purti Group. Regency Equifin Pvt Ltd interestingly has Gadkari's accountant Kawdu Zade and other employees in Purti as directors.
Also, records show that Regency Equifin both borrowed from and lent money to Gadkari. The company bought shares worth Rs 4 crore in Gadkari's Purti Group in 2008. The 2008-09 balance sheet of Regency Equifin shows Gadkari gave unsecured loans of Rs 26 lakh. In 2011, the balance sheet of Regency Equifin shows that the loss-making Purti gave Rs 95 lakh to it.
The Income Tax department on Thursday began probe into Purti Power and Sugar Ltd (PPSL). I-T authorities said they will also probe source of funds of the 18 companies that invested in Purti. Prima facie evidence suggested that shell companies had invested in Purti. Sources said that if necessary Gadkari might also be summoned in the case.
"I-T departments of Mumbai and Pune have started their probe into Gadkari's Purti Power and Sugar Ltd," sources said. The agency is also expected to submit a report to Central Board Direct Taxes (CBDT) soon.
The 18 companies will be summoned in due course. I-T department sources said that it would be very difficult to prove the quid pro quo. "If necessary Gadkari might also be summoned but that call will be taken by investigating officer in due course of the probe. I-T has already started gathering documents relating to these companies," said sources.
"We will trace the source the funds of the companies including the 18 companies that invested in Purti," a top I-T official said on condition of anonymity. He said prima facie 'shell' companies (inactive firms used as a vehicle for various financial manoeuvres or kept dormant for future use in some other capacity) had pumped money into PPSL.
Gadkari is at the centre of a raging controversy over funding of PPSL with media reports claiming that major investments and large loans to Purti were made by Ideal Road Builders (IRB) group, which had won contracts between 1995 and 1999, when the BJP chief was PWD minister in Maharashtra.
Media reports also claimed that shell companies were floated for making investments and their fake addresses were submitted to the Registrar of Companies. On Tuesday, Corporate Affairs Minister Veerappa Moily had said that Registrars of Companies would inquire into the allegations. On his part, Gadkari has denied the allegations and said he was prepared for a probe.
(With additional information from PTI)
Do you still believe Gadkari is not corrupt?
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