ED searches Essel Group companies in RFL money laundering case
Enforcement Directorate on Thursday said it raided companies of the Essel Group in Mumbai and recovered «incriminating» documents as part of its ongoing money laundering investigation linked to alleged diversion of funds worth over Rs 2,000 crore from Religare Finvest Limited (RFL). The federal agency said in a statement that three premises linked to Konti Infrapower and Multiventures Pvt Ltd, Edison Infrapower and Multiventures Pvt Ltd, Asian Satellite Broadcast Ltd, Widescreen Holdings Pvt Ltd, Jayneer Capital Pvt Ltd, Spirit Infrapower and Multiventures Pvt Ltd and the residential premises of a former senior official of the Essel Group (who was not named) were raided on Wednesday.
The Essel Group is promoted by media baron Subhash Chandra and owns stake in leading media and entertainment companies which includes — Zee Entertainment Enterprises Ltd, Zee Media Corporation and Dish TV.
«The search has resulted in the recovery of incriminating documents and recording of spot statements of the officials of the companies under the provisions of the Prevention of Money Laundering Act (PMLA),» the agency said in a statement.
An Essel group spokesperson, however, said no «incriminating» documents were seized during the raids on its two premises and that the company did no wrong.
«Essel Group extended complete cooperation to the officials and provided all the relevant documents and explanations.
»Essel Group wishes to state, as per the Panchnama, no 'incriminating' documents were found or seized," the spokesperson said in a statement.
As far as the Rs 150 crore loan is concerned, the same has been repaid/settled and there no wrongful loss was caused by Essel Group, the spokesperson said.
