Raj Kundra questioned by ED for nine hours in Iqbal Mirchi money laundering case

The agency is investigating Kundra’s alleged business venture with Ranjeet Singh Bindra and a firm called Bastian Hospitality. Kundra and Bindra are both on the board of the firm. The proceedings in the case are being conducted under the criminal provision of the Prevention of Money Laundering Act (PMLA).

Apart from this, Kundra and Shetty were also directors of a firm — Essential Hospitality Limited — which has received loans from RKW Developers Private Limited, a company owned by Dheeraj Wadhawan and also has Bindra on its board.

Kundra had earlier denied any wrongdoing in these business dealings. Bindra was arrested by ED earlier this month as the agency alleged that he played a crucial role in the illegal dealing of properties to the tune of Rs 200 crore belonging to Mirchi. The arrests came over nine years after the alleged dealing of the three properties in 2010 and the subsequent death of Mirchi in 2013, who had allegedly purchased them in 1986.

The ED has alleged that Bindra was a broker between Mirchi’s aide and Sunblink Real Estate Private Limited to whom the properties were sold to in 2010 for Rs 225 crore. Sunblink is run by the brother-in-law of Dheeraj Wadhawan.