The Anti-Corruption Bureau (ACB) arrested an aide of Daya Nayak on Sunday night for allegedly helping the encounter specialist convert black money into white.
MUMBAI: The Anti-Corruption Bureau (ACB) arrested an aide of Daya Nayak on Sunday night for allegedly helping the encounter specialist convert black money into white.
P Manivellan, a former timber merchant, is believed to have been a close associate of Nayak for the past 10 years. He is alleged to be the ‘mastermind’ behind Nayak’s investments to turn black money into white.
Manivellan was remanded in ACB’s custody till January 30 by Special Judge (ACB) S S Joshi. Manivellan’s is the first arrest in the disproportionate assets case against Nayak.
The ACB suspects that Nayak bought sick industries through Manivellan and then showed bogus transactions and profits through these non-existent companies to corroborate his income.
Nayak is accused of possessing wealth disproportionate to his known sources of income.
Hailing from Tamil Nadu, Manivellan used to live with Nayak. Six months ago, he shifted to a posh, well-furnished flat on the 33rd floor of Avalon Building at Hiranandani Gardens in Powai for a monthly rent of Rs20,000. Manivellan’s wife and son stayed at their native place in Tamil Nadu, ACB sources said.
Additional DCP Vikas Gaikwad said, “Manivellan has been arrested under Section 109 (abetment of crime) of the IPC. During investigations, we found Manivellan’s involvement in the Nayak case.
Accordingly, an ACB team went to conduct a search at Manivellan’s flat on December 19, but found the flat locked. Later, we sealed the flat. On Sunday morning, when Manivellan returned, we searched the flat in his presence and seized incriminating documents.”
Investigations revealed that Manivellan was a director of Deve Paints (Flora Fountain, CST) and Kuber Finance (Santacruz). His name also figured as director of 13 non-existing companies in the city. Deve Paints (originally Garware Paints) was purchased by Manivellan’s front company, P Manivellan Associates, in 1994.
Manivellan had purchased it by allegedly using Nayak’s black money and the purchase transaction documents were allegedly backdated to ward off suspicion on Nayak, who joined the state police service as PSI in 1995-96, ACB sources disclosed.
The ACB intends to find out how and where Manivellan used and circulated Nayak’s alleged ill-gotten gains, which were transferred to him via the bank accounts of Nayak’s wife and her company Ojus Housing Finance Limited.
“The joint legal income and assets of Nayak and his wife Komal are Rs17 lakh, while their expenses amount to Rs69 lakh in the years under investigation.
The total unaccounted income and assets are Rs41,75,150 (214.22% of Nayak’s official income). Manivellan is close to Nayak and was on the phone with him even at the time of his arrest,” said prosecutor R V Kini.
In the sessions court, Manivellan’s counsel, Satish Maneshinde, admitted that the accused had known Nayak “for the last 15 years and had his phone number”.
“Being a trustee in Nayak’s school and accepting and investing Nayak’s money is not a crime. Manivellan is not a public servant and, therefore, cannot be arrested for corruption,” he said.
Meanwhile, the original complainant, Ketan Tirodkar, reacting to Manivellan’s arrest, said, “My trust in the judiciary was doubly vindicated today,”.
While Nayak was refused bail, Manivellan had been remanded in custody, he said.
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