It's only a fortiori investigation and may not lead to the consultancy firm being charge-sheeted
In the Aircel-Maxis case, one of the joint directors of the Enforcement Directorate (ED) has started a fortiori investigation into the alleged link between Astro Overseas Ltd, which is owned by Malaysia's Astro Holdings Sdn Bhd, and Astra 21 Lifestyle Private Ltd, a company promoted by Ashok Rajgopal.
According to a source who has been closely associated with the case, the probe into Astro Holdings with regard to Aircel-Maxis case has led to a "look-out" for companies associated with the Malaysian media company.
"This is how Astra 21 Lifestyle is being probed. Astra director has held the position of director in various Astro-held companies," he said.
The source, however, said the probe did not mean that Astra 21 will be charge-sheeted. The source said the investigative agency was only trying to find out whether there was an association between the two and the nature of that relationship.
According to the source, the ED was probing whether Astra was allegedly being used as a shell company to launder or round trip money vide Prevention of Money Laundering Act (PMLA).
He said the Indian investigative agency has taken a cue from its Indonesian counterparts, which probed all the Malaysian media's associate companies to strengthen its case.
"This investigation is being carried out under one of the joint directors in the ED. If anything is found in violation of the law, then the case would be taken up by the PMLA court," said the source.
According to information available on the internet, Astra 21 Lifestyle was registered on June 28, 2012 and its registration number was 232000. The official address of the company has been given as 38, Shanti Building, 219 Peddar Road, Mumbai.
This information is available on corporatedir.com, which says the company has "two active directors", naming Ashok Rajgopal and another person.
"There are no other partners in the company except these two officers," it says.
Rajgopal, to whom dna spoke to, said his company provided consultancy to Astro. "It (Astra 21 Lifestyle) is my own company, it has nothing to do with Astro. We provide consulting services to Astro".
He further added Astra 21 was a "consulting company, providing services to media companies since 2012".
"Astra 21 provides consulting services to Astro in respect of some of its investee companies in India. Astro does not own any interest in Astra 21 Lifestyle," said Rajgopal.
He is currently on the Board of a few Astro investee companies. He vehemently refuted that he or "Astra 21 represented Astro in India".
An Astro Overseas Limited (AOL) spokesperson also told dna it has no "interest in Astra 21 Lifestyle."
"AOL has no interest in Astra 21 Lifestyle. Mr Ashok Rajgopal, its promoter, provides professional and advisory services to certain AOL Group companies. Astra 21 Lifestyle does not represent AOL in India," said a company spokesperson.
It reaffirmed its commitment as "a significant long-term investor in India."
"(AOL) has invested in a number of different businesses over the past 10 years. Generally, these businesses are performing to expectation. AOL has no current plans to exit India," said the spokesperson.
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