Mumbai Local

‘Samir gave orders for cash against cheque transactions’

One of the chartered accountants employed by the Bhujabals at the Mumbai Education Trust, Sunil Naik, in his statement to the ED said that “the face value of the shares was Rs 100 each and the premium ranged between Rs 900 to Rs 9,900 per share and that M/s Armstrong Energy Pvt Ltd had sold approximately 50 lakh shares and collected Rs 50 crores, whereas, M/s Parvesh Constructions Pvt Ltd. had sold approximately 55 lakh shares and collected Rs 75 crores.” It was only on the instruction of Sameer Bhujbal that the quantum of finance required by the two companies were decided.

“The funds received by the said two companies were used either for purchase of property or investment/transfer in other group companies and that the cash used to be handed over to the said operators or their associates at MET office,” Mr Naik has claimed in his statement.

Mr Naik has said that similar cash-against-cheque transactions were also done by him on the instructions of Samir Bhujbal with M/s Micro Technologies Ltd and M/s Spanco Telesystems Pvt Ltd. These companies were in need of cash against cheque and that in March 2006 Mr Naik had met Kapil Puri, managing director of M/s Spanco Telesystems Pvt Ltd through a CA Adarsh Bagaria and handed over Rs 7.50 crore. Similarly, in March 2009 Naik had met Mukund Gupta, CEO of M/s Micro Technologies (India) Ltd through another CA, Arvind Goyal and given cash worth Rs 25 crores. Later these companies would give cheques of equal amount to the account of M/s Parvesh Constructions Pvt Ltd.

Mr Naik has said that the source of cash can be explained only by Chhagan Bhujbal or his nephew Sameer.

Suresh Jajodia’s statement was recorded on July 14, 2015. He confirmed what Mr Naik said and added that he had contacts with one R C Singh of Kolkata who used to control certain private limited companies, and that as instructed by Mr Naik he had arranged funds in the bank accounts of M/s Parvesh Constructions Pvt Ltd and M/s Armstrong Energy Pvt Ltd against cash.


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Printable version | Nov 27, 2021 2:21:38 PM | https://www.thehindu.com/news/cities/mumbai/news/samir-gave-orders-for-cash-against-cheque-transactions/article8478137.ece

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