Nawab Malik’s son is a 25% partner in Touchwood Real Estate which owns plot in Bandra-Kurla
The Enforcement Directorate (ED) digs deeper into Maharashtra minister Nawab Malik’s money-laundering probe. In a major crackdown, the ED has found a plot worth Rs.200 crore in the Bandra- Kurla area that is linked to the family.
Nawab Malik’s son, Faraz, is 25% partner in Touchwood Real Estate Pvt Ltd which owns the plot in Bandra-Kurla. The investigation has revealed that the plot was bought in 2006 with three different transactions from various buyers.
Since the ED found the transactions suspicious, investigations are on against the people involved, sources said.
During the probe the ED made a scrutiny of the balance sheet of Touchwood Real Estate has led them to investigate an Rs.150 crore money laundering case against a city-based company, Associate High Pressure Technologies Pvt Ltd, that has diverted bank loans to a company linked to NCP leader Malik’s son.
The agency had conducted a search at five premises in Mumbai and Gujarat linked to the promoters of Associate High Pressure for defaulting on loan repayment to the Union Bank of India.
On Monday, Nawab Malik was brought back to ED custody for interrogation after spending three days in a Mumbai hospital for a health complication. The ED has found that Malik have transactions with 1993 Mumbai serial blasts mastermind Dawood Ibrahim and other members of D-company, including his sister Haseena Parker and a serial blasts convict Sardar Shahwali Khan.
This is the second high-value property to have been linked to Malik and his family by the agency. Earlier, a plot at Kurla with an estimated market value of over Rs.300 crore was identified by the agency as belonging to Maliks who, according to the agency, had acquired it in connivance with gang members of Dawood Ibrahim, including 1993 Mumbai serial blasts convict Sardar Shahwali Khan.
Due to Malik’s unavailability for alleged health reasons the agency has already lost a significant period of Malik’s custodial interrogation due to his unavailability. Considering this the agency may approach the special court for further extension of the custody period, sources said.
[With Inputs from IANS]
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