ED summons NCP leader Jayant Patil for questioning in IL&FS money laundering case

“Yesterday, the ED sent me the notice on my wedding anniversary. The notice has no reason mentioned. The IL&FS case seems to be the reason per the file number. I have neither taken the loan nor interacted with this company. Yesterday, a constable sent me a notice to appear tomorrow. But I will be busy with a family programme for two to three days. Therefore, I have sent them a letter asking for a later date,” said Patil.

“The entire country knows why ED sends the notice. So I am not amazed at the timing of it this time. I am, however, clear about my income tax and returns. I will not comment on why I am being targeted. But I request you (the media) to ask the ED why,” he said.

On Wednesday, the agency also carried out searches against two former auditor firms of IL&FS — BSR and Associates and Deloitte Haskins and Sells.

The ED began its probe into the IL&FS money laundering case in 2019 based on a First Information Report by Delhi Police’s Economic Offences Wing (EOW). The agency in August 2019 probed Maharashtra Navnirman Sena (MNS) chief Raj Thackeray in connection with the case.

In 2005, Thackeray, former chief minister Manohar Joshi’s son Unmesh and builder Rajan Shirodkar bought Kohinoor Mill no. 3 and set up Kohinoor CTNL. Thackeray exited the project within three years. The deal came under the ED’s scanner after alleged gross irregularities in IL&FS’s various loans surfaced.

The Kohinoor CTNL project is being probed as it received loan and equity investments adding up to Rs 860 crore from IL&FS. ED sources said Kohinoor CTNL allegedly acquired the loan without adequate security and defaulted on repayments. Of the Rs 860 crore, Rs 225 crore was the initial investment in Kohinoor CTNL.

In 2008, IL&FS suffered a loss by selling its Kohinoor CTNL shares for Rs 90 crore, taking a hit of Rs 135 crore. In 2011, Kohinoor CTNL agreed to sell certain skyscraper premises to IL&FS and settle the amount, but it defaulted again, according to sources. Following Kohinoor CTNL’s inability to repay its loans, Joshi lost control of the company to an architectural firm. Joshi and Shirodkar, too, have been questioned in the case.