ED raids MLA Hitendra Thakur’s office, five Viva Group premises

Vijay Kumar Yadav and Ram Parmar

MUMBAI: The Enforcement Directorate (ED) officials are conducting raids at five locations including the office of Bahujan Vikas Aghadi (BVA) president and MLA Hirendra Thakur and five premises of the directors of Viva Group in Vasai-Virar and Palghar areas in connection with the Punjab and Maharashtra Cooperative (PMC) Bank scam case. ED officials confirmed the development.

Five premises of Viva Group, owned by Thakur’s family, and its associates that were searched on Friday included registered office of Viva Group in Virar, residential premise of concerned person of the firm in Virar, one associated office premise in Andheri, and two residential premises of two financial consultants of Viva Group in Juhu and Chembur.

Thakur said, “We were prepared for ED’s visit after the action on Raut. Around 35-40 personnel from ED in seven big vehicles arrived at our Virar office at 9.30am and they are still present. We are cooperating with ED as we have nothing to hide. All our dealings are through cheques and are in black and white. Regarding political vendetta I can only say, wait and watch. We are prepared to answer all their queries and are even willing to visit ED office. We have nothing to hide.”

During the search, ₹73 lakh cash, incriminating digital and documentary evidences have been recovered.

HDIL is accused of defrauding PMC Bank of over ₹6,670 crore by fraudulently obtaining nearly 70% of the bank’s overall loans.

ED had begun money laundering probe in the PMC Bank case after Mumbai Police’s economic offences wing (EOW) registered a criminal case in September 2019 against HDIL, its promoters Rakesh Wadhawan and Sarang Wadhawan, former chairman Waryam Singh, former chairman and managing director Joy Thomas, and others for causing loss in thousands of crores to PMC Bank and corresponding gain to themselves.

Prosecution complaint has been filed against Rakesh Wadhawan and others under PMLA. Investigation also revealed that Wadhawans, in connivance with Viva Group, have diverted more than ₹ 160 crore from HDIL to many companies belonging to Viva Group in the garb of commission. Source of these funds from HDIL to Viva group is apparently the illegal fund diversion from PMC Bank.

ED has also initiated investigation in another case against Rakesh and Sarang Wadhawan and others for siphoning ₹200 crore sanctioned by Yes Bank to one Mack Star Marketing Pvt Ltd. This loan was siphoned by Wadhawans by showing it for fictitious purpose.

Hitendra Thakur.