Sena chief Yashwant Jadhav’s cup of woes overflows with income tax department expanding property list
Shiv Sena leader and BMC Standing Committee Chairman Yashwant Jadhav is overflowing with the Income Tax (IT) Department expanding the list of properties acquired during the Covid19 pandemic lockdown from 36 to 56, with jewelry purchased with Rs 6 crore cash.
Computer sleuths had identified 36 Yashwant Jadhav properties in the first phase of the investigation which has now grown to 56 of which 41 properties have been provisionally attached under Section 132(9)B of the Income Tax Act Income. Adjoining properties include 31 apartments in the Bilkhadi Chamber Building in Byculla where Jadhav lives, an apartment worth Rs 5 crore in Bandra and the Crown Imperial Hotel in Byculla.
“It is suspected that the acquisition of all assets took place while Yashwant Jadhav was the Chairman of the Standing Committee of BMC. All adjoining properties are registered in the name of Yashwant Jadhav, his family members and close associates” , informed an IT official involved in the investigation.
During 4 days of searches at the residence and offices of Yashwant Jadhav in February this year, IT officials seized several property documents, suspicious book entries for cash payments and expensive gifts – a wrist watch. worth Rs 50 lakh to Matoshree and gifts of Rs 2 crore to Matoshree for Gudi Padwa. Jadhav claimed that the entries referred to his mother as ‘Matoshree’ and distributed watches on his mother’s birthday and similarly distributed gifts worth Rs 2 crores on behalf of his mother on Gudi Padwa.
The IT department recorded the statements of the jeweler who was paid Rs 6 crore for gold jewelery and the statement of tenants paid Rs 1.15 crore in cash to buy the three-bedroom property in the building where Jadhav lived .
IT summoned Yashwant Jadhav’s close associates, Vilas Mohite and Vineet Jadhav, to record their statements, which they both repeatedly ignored. While Vilas Mohite oversaw the work of Yashwant Jadhav’s BMC, Vineet Jadhav was a director of BMC entrepreneur Bimal Aggarwal’s Newshawk Multimedia Pvt Ltd. . Jadhav is believed to have favored Agarwal for various BMC deals worth Rs 30 crores.
Jadhav via Newshawk Multimedia is said to have purchased 31 apartments in Bilakadi’s rooms. Jadhav reportedly paid four to five tenants in the building in cash and each was paid between 30 and 35 lakhs. There are 40 other properties under investigation that are suspected of being linked to Jadhav. Some payments were made to tenants through overseas hawala channels.
The Crown Imperial hotel acquired by Jadhav was also taken on lease by Newshawk Multimedia and then secured a contract from BMC for the quarantine center. The hotel was reportedly purchased for Rs 1.75 crores but was later sold within a year for over Rs 20 crores.
The initial investigation into the affidavit filed by Yeshwant Jadhav’s wife, Yamini, Shiv Sena MLA of Byculla, had shed light on dealings with a front company of Kolkata Pradhan Dealers Pvt Ltd. Around Rs, 15 crore was received from Pradhan Dealers which was then invested in a building in Byculla and the Jadhav family returned the money to Pradhan Dealers. The same funds were then transferred to Newshawk Multimedia. The Mumbai Registrar of Companies has also filed a complaint with Marine Drive Police Station asking to register a complaint against Pradhan Dealers and its directors.
IT requested information from BMC regarding contracts approved by the Standing Committee from April 2018 to date, when Jadhav was the chairman, as well as details of all sub-contractors, were sought and payments were made to them. been paid by BMC.
Yashwant Jadhav and his wife Yamini remained unavailable to comment on the IT cases against them.
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Posted: Saturday, May 14, 2022, 11:04 PM IST