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Notice to Shapoorji Pallonji Group chairman

The Shapoorji Pallonji Group,one of the country’s biggest realty firms,has come under the scanner of the Bombay High Court,which has issued a notice to its chairman in an alleged disproportionate assets case in Maharashtra.

Written by Express News Service | Published: April 25, 2012 2:55:37 am

The Shapoorji Pallonji Group,one of the country’s biggest realty firms,has come under the scanner of the Bombay High Court,which has issued a notice to its chairman in an alleged disproportionate assets case in Maharashtra.

A Division Bench of Justices S A Bobde and Mridula Bhatkar issued the notice while hearing a public interest litigation filed by former journalist Ketan Tirodkar.

The case is related to suspended deputy collector of Raigad,Nitish Thakur. In March,Thakur was arrested by the Anti-Corruption Bureau (ACB) after it conducted raids on his properties in Mumbai,Alibaug,Thane,Murud and Raigad.

According to the agency,he allegedly owned assets worth about Rs 248 crore,including large stashes of cash,jewellery,luxury cars as well as evidence of large investments.

The SP group was earlier headed by Cyrus Mistry till he was appointed the successor to Ratan Tata at the Tata Group. At present,his elder brother Shapoor Mistry is the managing director of the conglomerate. Their father Pallonji Mistry is the chairman of the company.

In his petition,Tirodkar cited the remand application filed by the ACB pertaining to Thakur.

The 147-year-old Shapoorji Pallonji Group is involved in construction,infrastructure and home appliances. In 2010,the company completed the construction of a twin skyscraper project named The Imperial in Mumbai — the tallest residential buildings in the country.

Last week,Home Minister R R Patil had told the Assembly that Thakur had received a large sum of money from Shapoorji Pallonji and the state would probe the reason behind this alleged payment.

Maharashtra Navnirman Sena MLA Pravin Darekar had alleged on the floor of the House that Thakur had helped the real estate firm bag a lucrative Slum Rehabilitation Authority project in Kandivli.

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