The Enforcement Directorate (ED) continues to give nightmares to Chhagan Bhujbal and his family.
The agency is set to attach another big residential property, Hafeeza Mahal, in Bandra West, worth Rs 150 crore. It's owned by Pankaj and Samir Bhujbal Pankaj is the son of the Nationalist Congress Party (NCP) leader and former Public Works Department (PWD) minister and Samir his nephew.
"It will be done soon, probably by November-end, under anti money-laundering norms," an ED source told dna.
The property is part of the Rs 749-crore Maharashtra Sadan -- the government's guest house in Delhi – scam.
Investigations have revealed that Hafeeza Mahal was developed using the tainted money of Parvesh Construction, a real-estate firm jointly owned by Pankaj and Samir.
That's not all. Another residential building by Parvesh Construction – 'La Petit Fleur' – in Santa Cruz, worth Rs 100 crore, would also be attached in a month's time, said the source.
Sources said that the valuation of both the properties would actually be more than Rs 250 crore.
The ED has already registered two Enforcement Case Investigation Reports (ECIRs) in June against Chhagan Bhujbal, Pankaj, Samir and 19 others, suspecting illegal transactions to the tune of Rs 900 crore, under the provisions of Prevention of Money Laundering Act (PMLA).
So far, it has attached a 97,000 sq m property in Navi Mumbai in the name of Devisha Infrastructure, which runs a housing project in Navi Mumbai called Hex World Housing Society, worth around Rs 160 crore.
Speaking to dna, Chhagan Bhujbal denied any such move. "No, this is not true," is all that he would say.
Between 2007 and 2011, Pankaj and Samir were directors of Parvesh Construction, a firm which executes redevelopment projects in Mumbai.
The company has raised Rs 65 crore by selling shares worth Rs 100 each at a premium of Rs 9,900. In 2011, it allotted 39,930 shares to 11 small constructions firms and raised close to Rs 40 crore.
These firms are Ashok Investment Corporation Pvt Ltd, Discovery Buildcon Pvt Ltd, Greenline Vyapaar Pvt Ltd, Hingora Fabvest Pvt Ltd, Mangal Sago, Mine Tax Processors Pvt Ltd, Nihon Commodities Pvt Ltd, Presidency Merchants' Pvt Ltd, Sneha Residency Pvt Ltd, Sunview Retail Pvt Ltd and Universal Resources India. These companies are based in Kolkata, Surat, Mumbai and Navi Mumbai.
"The allotment of shares for a huge premium to small firms had raised many questions. We suspect these shares were purchased by shell companies, which were floated to pay kickbacks," said an ED source.
"In 2009, the company raised Rs 25 crore by selling 25,600 shares to Malad-based Hingora Finvest at a premium of Rs 9,900 per share. Armstrong Energy, incorporated by Pankaj, couldn't explain the source of Rs 60 crore," said an ED source.
Parvesh Construction owns four properties. They include residential buildings in Bandra and Santra Cruz, 65 acres of land and bungalow (5,000 sq feet), with a helipad at Lonavla, worth around Rs 75 crore. It also owns a residential building worth Rs 5 crore in Nashik.
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