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THE ENFORCEMENT Directorate (ED) Saturday lodged a cheating case with the Mumbai Police against a diamond merchant, Chetan Shah, for allegedly possessing a fake ‘Interpol International Police’ identity card. Shah, who is an also accused in a loan default case, was searched by the agency during its crackdown against shell companies floated for the alleged purpose of money laundering. “We recovered an identity-card which identified Shah as a ‘Special Agent’ with Department of Investigation of Anti-Terrorism Division of the Interpol international police. We suspect it’s a fake card and therefore a cheating case was registered with the Mumbai Police,” said a senior official from the ED.
In its complaint, the ED stated that Shah floated 13 shell companies used to launder money. He also availed a loan of Rs 300 crore from banks, but these were subsequently declared as bad loans,” the complaint states. The ED team had raided Shah’s Worli home in presence of his wife, Hema.
“It was during the searches that we found the identity card, which bears his signature and photograph,” said the official.
Shah owns an office at Shreeji Chambers in Opera House in Mumbai. He and his wife are the promoters of Decent Diamond Pvt Ltd. Shah took loans from four public sector banks, including Dena Bank and Union Bank of India. He is being probed for a loan default case under FEMA.
Meanwhile, the ED will soon summon Jagdishprasad Purohit, who illegally converted Rs 46.7 crore for former Deputy CM Chhagan Bhujbal through two shell firms, Kumaon Engineering Co Pvt Ltd and Sea Green Realtors Pvt Ltd. “We have incriminating evidence against Purohit and his questioning is essential to find out who he sold his companies to,” added the official.