Web of firms found cornering lucrative land deals.
At least three companies owned by state water resources minister Sunil Tatkare’s children are under a cloud for their dealings with a firm suspected to be a front for some big business houses.
Swargamrut Estate Pvt Ltd, Geetaamrut Agro Estate Pvt Ltd and Multiventures Estate Pvt Ltd, in which Aniket Tatkare and Aditi Tatkare together hold 49% stake, received significant investments from Vinamra Universal Traders Pvt Ltd, a shadowy entity promoted by two little-known individuals – Sunil Lotke and Akhilesh Jain, documents available with DNA Money show.
The money, in turn, was used to buy hundreds of acres of land.
Incidentally, Greenery SEZ, promoted by Mukesh Ambani and JaiCorp chairman Anand Jain, has a 5% stake in each of the three Tatkare kin firms.
DNA Money tried tracking the investment trail. And came up with a complex web. The way it stacks up, Mumbai SEZ holds 34% stake in Greenery SEZ.
Now, in Mumbai SEZ, 69.8% is owned by Ambani-promoted Reliance Group Commercials Pvt Ltd, while 10.1% stake is owned by Jai Corp Ltd, promoted by Anand Jain. Of the rest, 2.33% is held by Ambani confidante Manoj Modi, 9.30% by six little known firms that share the same registered office address as that of Reliance Group Commercials, 6.49% by SKIL Infrastructure Ltd, Nikhil Gandhi, Bhavesh Gandhi and others, and 1.91% by Picadilly Trading and Servicing company, with the registered office address 26, Chittaranjan Avenue, Kolkata.
Curiously, 46% stake in the three Tatkare kin companies is owned by a little known firm named Vinamra Universal Traders Pvt Ltd, whose registered office – Jai Centre, first floor, 34, P, D’mello Road, Mumbai – is the same as that of Greenery SEZ, Mumbai SEZ and Navi Mumbai SEZ, all promoted by Ambani and Jain.
That’s not all. Vinamra, with a paid-up capital of just Rs1 lakh, received an unsecured loan of Rs3,520 crore – of the lender, there is no mention in filings with the Registrar of Companies – in 2008.
Whoever could have granted such largesse to a company promoted by two little-known individuals – Sunil Lotke and Akhilesh Jain?
After receiving the loan, Vinamra bought stake in 31 companies, including the three promoted by the Tatkare kins.
Not only that, Vinamra also gave advances and loans of over Rs1,500 crore to 97 companies that are only involved in land purchases and real estate dealings.
DNA found out that two of the companies that received loans – Coin Land Pvt Ltd and Chineshwar Land Pvt Ltd – are fully owned by the Tatkare kins.
With funds flowing from Vinamra, Swargamrut Estate, Multiventures Estate and Geetaamrut Agro Estate purchased hundred of acres of land.
DNA has in its possession several land copies of transaction deals executed by these three firms with farmers of Roha taluka in Raigad district of Maharashtra.
“It’s a matter of investigation. How come this little-known firm (Vinamra) get an unsecured loan of over Rs3,500 crore? Who is behind this charity?” asked Mayank Gandhi, leader of Aam Admi Party. “Did the income-tax authorities scrutinise the IT returns of the promoters of Vinamra and the profit these individuals made through land dealings?”
BJP national secretary Kirit Somaiya was more direct. “Registered office address of Vinamra is the same as of Reliance Group Commercial, which suggests that the promoters might be the same,” he said.
“From the transactions, it appears that the Tatkare kins are acting as front man for acquiring land for Anand Jain and Reliance Group Commercials,” Somaiya alleged, seeking an investigation.
Sanjay Parmar, an activist of Aam Admi Party, asked another pertinent question – who are the promoters of the 97 companies that received loans and advances from Vinamra and 31 companies in which Vinamra bought equity?
An email questionnaire sent to Reliance Industry spokesman Tushar Paniya on January 10 did not elicit any response.
A questionnaire sent to Aniket Tatkare on his mobile did not elicit any response. DNA’s effort to reach him on his mobile later went in vain as his mobile was switched off.
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