Even though the ED has made arrests on the premise that PMT Machines Ltd was used to launder loans, the Vibrant Gujarat 2017 brochure calls it a leading heavy engineering firms
The Sandesara Group, under CBI and ED scanner for defaulting more than Rs 5,300 crore in bank loans as also bribing three senior income tax officials, was the cynosure of all eyes till agencies started chasing it.
It has now emerged that not only was the group, accused of defrauding banks since 2010, which has a strong presence in Gujarat, close to top leaders of several political parties, it continued to get government largesse in the shape of subsidised land till about three years back.
Sources say the CBI and ED have in their possession documents to prove that the Group, which runs Sterling Biotech, Sterling SEZ, Sterling Ports, Sterling Energy and PMT Machines, among others, continued to do business with the BJP's Gujarat government till last year.
In June 2014, the State Government's Gujarat Maritime Board entered into a concessional agreement with Sterling Port for development a greenfield port at Dahej in Bharuch district. The project was to cost about Rs 4,060 crore over a period of 10-12 years. To help it develop the project, the company was awarded a 30-year concession. So much so that in the last three years, the Gujarat government has acquired over 100 hectares of land for the company.
Incidentally, in the Vibrant Gujarat Summit, the port being developed by the company was showcased as a big achievement.
Investigators are looking into the issue of how and at whose orders Sterling SEZ, incorporated in 2006, was granted several hundred acres of land at Jambusar to develop a SEZ. Company's promoters are alleged to be close to several top leaders of BJP and Congress. Incidentally, while the promoters are currently absconding, sources in the agencies say a Gulfstream aircraft used by the promoters travelled to the US from a West African country in December last.
Sources in the agency say a detailed dossier has been prepared about the links of the promoters with various government functionaries and politicians.
The several foreign trips undertaken by them along with senior officers of Gujarat government are also under the scanner.
Interestingly, even though the ED has made arrests on the premise that PMT Machines Ltd was used to launder loans, the Vibrant Gujarat 2017 brochure lists the company as one of the state's leading heavy engineering firms.
‘LEADING ENGG FIRM’
Even though the ED has made arrests on the premise that PMT Machines Ltd was used to launder loans, the Vibrant Gujarat 2017 brochure calls it a leading heavy engineering firms
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