IS ASHOK MITTAL HELPING NAND KISHORE CHATURVEDI TO EVADE ED'S PROBE?

 

Bharat Jeetega, Corruption Meetga!

PUBLIC INVESTIGATION

EXPOSE ON THE MAJOR HAWALA RACKET IN INDIA 

Key Players: #NandKishoreChaturvedi and #AshokMittal. (Note: All facts and documents are public and submitted in court. The link of key document is here: https://www.scribd.com/document/690485435/Ia-No-386-of-2023-Volume-i-to-Volume-IV-in-Cp-No-47-of-2010-1?secret_password=H1wu4g3dAlSaAWDFi1Sx

(The purpose of this article is to create public awareness and not target any individual.)

IS ASHOK MITTAL HELPING NAND KISHORE CHATURVEDI TO EVADE ED'S PROBE? 

The two have several joint businesses in India and abroad. One of the key links is the investment made in the Hotel Plaza at Ashoka Road, Delhi.

By Andy Cohen

Prime Minister #NarendraModi relentless “War on Corruption” has led to the uncovering of the biggest hawala racket in India. This racket involves high-ranking government officials and politicians who have been embezzling billions of rupees through illegal money transfers. The king pin of the racket is a powerful businessman #AshokMittal and his close business partner #NandKishoreChaturvedi, at present most wanted hawala operator. They have been able to evade law enforcement for years.

In the last two years, income tax authorities have raided homes and offices of Nand Kishore Chaturvedi and Ashok Mittal multiple times, but they have managed to avoid any significant consequences. https://economictimes.indiatimes.com/news/india/i-t-dept-raids-hotel-royal-plazas-chairman-for-stashing-rs-40-crore-abroad/articleshow/93074759.cms. The Enforcement Directorate (ED) has initiated probes against Chaturvedi in several cases. At present, he is on the run, evading arrest. The ED has been unable to apprehend him despite having multiple warrants out for his arrest.

The association between Ashok Mittal and Nand Kishore Chaturvedi goes back to the days when they were small-time businessmen in 2003 in Mumbai. They have been able to maintain a close relationship over the years. They have been able to support each other through various business ventures and personal challenges.https://www.indiatoday.in/india/story/income-tax-dept-raids-hawala-operator-nandkishore-chaturvedi-entities-several-states-2390183-2023-06-08

Ashok Mittal and Nand Kishore Chaturvedi, however, made a big killing in 2003 when they were successful in re-routing their black money in the garb of FDI (foreign direct investment) to grab a valuable property worth Rs 2500 crores in Delhi by making just an investment of Rs 40 crores! This allowed them to gain significant financial benefits. The building was Hotel Plaza, which Mittal's older brother Ram Purshottam Mittal (R. P. Mittal) and his family originally acquired from the government as part of the disinvestment policy. Later, a Malaysian-based company, Hillcrest(Benami company of Ashok Mittal and Nand Kishore Chaturvedi), invested in the company Hotel Queen Road Pvt. Ltd. owner of Hotel Royal Plaza. Subsequently, this led to a change in the company's ownership structure. And this led to a dispute between the two brothers, which still continues. https://www.republicworld.com/business/industry/nclt-to-rule-on-fate-of-historic-royal-plaza-hotel-in-ownership-dispute.news; https://legal.economictimes.indiatimes.com/news/litigation/dispute-over-control-of-hotel-royal-plaza-in-delhi-reaches-nclt/105328677

The ownership of Hillcrest is shrouded in mystery and has significant links between several international black money operators and the now wanted hawala dealer, Nand Kishore Chaturvedi. who has grabbed national media headlines for his alleged role in funding the benami properties of Maharashtra's powerful political family, Uddhav Thackeray, Income Tax, and ED raids and searches on Chaturvedi opened pandora boxes. It also led to the discovery of close links with Ashok Mittal, who has businesses in Delhi and Mumbai. Subsequently, Income Tax also raided Ashok Mittal's properties, including Hotel Plaza. This led to further investigations and uncovered a large-scale tax evasion and money laundering scheme. https://www.outlookindia.com/business-spotlight/delhi-high-court-upholds-loc-black-money-launderer-ashok-mittal-of-hotel-royal-plaza-by-abhinav-sharma-news-334756

The documents submitted before courts including National Company Law Tribunal (NCLT) revealed that the relationship between Mittal and Chaturvedi runs deep and has colluded together to manipulate the financial records and evade taxes. A thorough investigation is required to uncover the full extent of their illegal activities. Several complaints have also been sent to central agencies to thoroughly probe their connections and book them for their black money financial crimes. 

EXPLOSIVE DETAILS GIVING BLOW BY BLOW ACCOUNT OF BENAMI TRANSACTIONS MADE THROUGH HILLCREST IN HOTEL PLAZA BY ASHOK MITTAL AND HIS SON VIKRAM MITTAL ALSO, THEY HAVE BEEN IN BUSINESS WITH NAND KISHORE CHATURVEDI FOR OVER TWO DECADES.  

Relevant extracts from documents submitted in the cases going before the courts.

MODUS OPERANDI 1. That in the year 2003 under a deep-rooted criminal conspiracy   Ashok Mittal, generated Undisclosed Black Money/ Proceeds of Crime of Rs.40 Crores from the operations of Hotel Queen Road Pvt. Ltd. by committing various alleged Criminal Offences punishable under Section 120b, 403, 405, 406, 409, 417, 420, 422, 424, 465, 467 and 34 of IPC also by committing offences under 50 & 51 of the Black Money (Undisclosed Foreign Income and Assets) Imposition of Tax Act punishable upto 7 & 10 years respectively along with fine. Thereafter with the help of Biggest Hawala Operator / Money Launderer / Absconding Fugitive Nand Kishore Chaturvedi, the Proceeds of Crime were parked into the Citibank Account of Vikram Mittal in Switzerland. This is evidenced and supported by the Income Tax Department vide Look Out Circular being F.No. DDIT (INV.) / FAIU-1 (3)/2022-23/dated 13.07.2022 issued by Deputy Director of Income Tax (INV) FAIU-3 ROM No.211, Civic Centre, 2nd Floor, C Block, Minto Road New Delhi read with the Notice No. ITBA/COM/F/17/2022-23/148318302 (i)/399 dated 29.12.2022 with Press Release dated 23.07.2022 of the Central Board of Direct Taxes (CBDT) titled “I-T dept. raids Hotel Royal Plaza’s Chairman for stashing Rs.40 crore abroad”. It is alleged that out of the total “Proceeds of Crime of Rs.40 Crores”, the “Proceeds of Crime of Rs.28.29 Crores” are transferred from the Swiss Bank Account (Citi Bank, Switzerland) of Vikram Mittal, to the Bank Account of Benami Company of Ashok Mittal / Vikram Mittal namely Cardiff Ltd. Malaysia which is a 1$ (INR 50/-) Company during April 2003 to June 2003. It is beyond compression how a sound businessman will transfer Rs.28.29 Crores to a 1$ (INR 50/-) worth Company). Thereafter the “Proceeds of Crime of Rs.28.29 Crores” are transferred from Bank Account of Cardiff Ltd. Malaysia to the Bank Account of its 100% owned subsidiary Company namely M/s Hillcrest Reality SDN. BHD, Malaysia which is a RM 2 (INR 23/-) during April 2003 to June 2003. It is beyond compression how a sound businessman will transfer Rs.28.29 Crores to a RM 2 (INR 23/-) worth Company). After the Income Tax Raids and after issuance of Look Out Circular Notice against Ashok Mittal on 13.07.2022 M/s Hillcrest Reality SDN. BHD transferred its RM-2 (Rs.23/-) worth Shareholding first to Bamberg Managements Inc. British Virgin Islands on 23.11.2022 and then Bamberg Management INC. transferred its RM-2 (Rs.23/-) worth shareholdings to Aravali Trading LLC in Shareholding, U.A.E. Below is a Chart showing the movement / laundering/ routing of “Proceeds of Crime of Rs.28.29 Crores in three tranches in a period of 3 months during April 2003 to June 2003: - 

Tranche	Date	Amount	From	To
First	01.04.2003	$ 2501000 (Rs.11.79 Crores)	Vikram Mittal Swiss Account	Cardiff Ltd. (wholly owned Subsidiary of Hillcrest Realty SDN BHD.)
	03.04.2003	$ 2500500 (Rs.11.78 Crores)	Cardiff Ltd. (wholly owned Subsidiary of Hillcrest Realty SDN BHD.)	Hillcrest Realty SDN BHD.
	11.04.2003	$ 2500000 (Rs.11.78 Crores)	Hillcrest Realty SDN BHD.	HOTEL QUEEN ROAD PVT. LTD.
Second	22.04.2003	$ 2501000 (Rs.11.79 Crores)	Vikram Mittal Swiss Account	Cardiff Ltd. (wholly owned Subsidiary of the Hillcrest Realty SDN BHD.)
	21.04.2003	$ 2500500 (Rs.11.78 Crores)	Cardiff Ltd. (wholly owned Subsidiary of Hillcrest Realty SDN BHD. )	Hillcrest Realty SDN BHD.
	24.04.2013	$ 2500000 (Rs.11.78 Crores)	Hillcrest Realty SDN BHD.	HOTEL QUEEN ROAD PVT. LTD.
Third	26.06.2003	$ 999995 (Rs.4.72 Crores)	Vikram Mittal	Cardiff Ltd. (wholly owned Subsidiary of Hillcrest Realty SDN BHD.)
	24.06.2003	$ 1000000 (Rs.4.72 Crores)	Cardiff Ltd. (wholly owned Subsidiary of Hillcrest Realty SDN BHD.)	Hillcrest Realty SDN BHD.
	24.06.2003	$ 1000000 (Rs.4.72 Crores)	Hillcrest Realty SDN BHD.	HOTEL QUEEN ROAD PVT. LTD.

 

That the Biggest Hawala Operator / Money Launderer / Absconding Fugitive Nand Kishore Chaturvedi was appointed as the Power of Attorney Holder of M/s Hillcrest Reality SDN. BHD. vide Power of Attorney dated 10.05.2005 . Both the Income Tax Department and Directorate of Enforcement are on lookout of the Hawala Operator who is Absconding Fugitive Nand Kishore Chaturvedi since 2017.

That   Ashok Mittal and Vikram Mittal along with Biggest Hawala Operator / Money Launderer / Absconding Fugitive Nand Kishore Chaturvedi are the Common Directors of the Two Companies namely M/s Franktown Investment and Trading Company Private Limited and M/s Niranjan Housing Private Limited. That since 2017 onwards Nand Kishor Chaturvedi is an Absconding Fugitive (being wanted by the Director Enforcement and Income Tax Department), and therefore in order to satisfy/ fulfill their own illegal motives, Vikram Mittal and Ashok Mittal have thereafter from July 2017 roped in Kaushik Poddar, and Mohit Khullar as the Power of Attorney Holders of Foreign Tainted Shell Company, namely M/s Hillcrest Realty SDN. BHD., Malaysia vide Power of Attorney dated 12.07.2017. That pursuant to the Power of Attorney dated 12.7.2017 affirmed an Affidavit dated 12.11.2022 which was filed before the Hon’ble NCLT in CP No. 08 of 2022. Ram Parshotam Mittal, Sarla Mittal, Jyoti Kesri and M/s Moral Trading Investment Limited vide their letters dated 27.09.2023 / 31.10.2023 brought to the notice of   Kaushik Poddar, and   Mohit Khullar, both POA of Hillcrest Reality SDN. BHD. about their being (without their knowledge) illegally mis-utilized by Ashok Mittal and Vikram Mittal and as per the information's of Ram Parshotam Mittal, the Kaushik Poddar and Mohit Khullar have now withdrawn themselves to act as Power of Attorney Holder of M/s Hillcrest Reality SDN. BHD. That the Proceeds of Crime of 28,29,290 Nos. of 8.5% Redeemable Preference Shares of Rs.100/- each aggregating to a value of Rs.28.29 Crores are under the Scanner of Investigating Agencies / Courts namely Income Tax Department, who have vide Look Out Circular bearing No.F.No.DDIT(INV.)/FAIU1(3)/2022-23/ dated 13.07.2022 / Notice No. ITBA/COM/F/17/2022-23/148318302 (i)/399 dated 29.12.2022/ Press Release dated 23.07.2022 booked Ashok Mittal and Vikram Mittal him for the offences under Section 50 and Section 51 under the Black Money (Undisclosed Foreign Income & Assets) and Imposition of Tax Act 2015 which is Scheduled Offences under Para “C”, Paragraph 29 of Prevention of Money Laundering Act 2002. The Commissioner of Police and Director of Enforcement are also looking into the complaints dated 27.08.2022 filed by   Ram Parshotam Mittal and others against Ashok Mittal, Nand Kishore Chatruvedi, Vikram Mittal and others about the Proceeds of Crime of 28,29,290 Nos. of 8.5% Redeemable Preference Shares of Rs.100/- each aggregating to a value of Rs.28.29 Crores. Vide Letter No. Reader/ACP/SEC-VII/EOW dated 12.10.2022 addressed by Assistant Commissioner of Police, EOW, New Delhi to Director Enforcement, New Delhi, EOW Department has requested Director of Enforcement to inquire into the allegations of Money Laundering against Ashok Mittal, Nand Kishore Chaturvedi, Ashok Mittal and others as alleged in the complaints dated 27.08.2022.

The Hon’ble Delhi High Court is also in seisin of the issue and has vide Order dated 22.02.2023 passed in W.P.(CRL) 517/2023 issued notice to the Ashok Mittal, his son Vikram Mittal, Nand Kishore Chaturvedi, Hillcrest and others  in the case titled as “Jyoti Kesri and Others versus Union of India and Others”. In CRL.M.A. No.19444 of 2023 in Writ Petition (Crl.) No.517 of 2023 before the Hon’ble Delhi High Court filed by Ram Parshotam Mittal and others, Hon’ble Justice Amit Sharma of Delhi High Court have vide Order dated 27.07.2023 admitting the petition, said:" The present application under Section 482 of the Cr.P.C. seeks the following prayers: “(a) Pass urgent appropriate Interim Order(s) to either attach the said “Proceeds of Crime of Rs.28.29 Crores” or to refrain the Respondent No.5 from remitting to the Respondent No.6 Company the “Proceeds of Crime” of Rs.28.29 Crores against redemption of 28,29,290 Nos.8.5% Redeemable Preference Share alongwith the unpaid dividend of Rs.7.21 Crores due since last 3 years, with further directions to the Respondent No.5 to keep the said total amount of Rs.35.50 Crores (comprising of Rs.28.29 Crores + Rs.7.21 Crores) in an Escrow Account subject to further direction(s) from this Hon‟ble Court. b) Pass urgent appropriate interim order(s) restraining Respondent No. 5 from issuing any fresh redeemable preference shares to Respondent No. 6 Company in lieu of the unpaid dividend of Rs. 7.21 crores due since the last 3 years, which are in fact the “Proceeds of Crime." (c) Pass such further and/or other order(s) as this Hon'ble Court may deem fit in the facts and circumstances of the case;” 2. In view of the nature of the prayers in the present application, the same shall be decided at the time of deciding the present writ petition." Respondents No.5 is Hotel Queen Road Pvt. Ltd. and Respondent No.6 is Hillcrest Reality SDN. BHD.

The above petition is next listed for hearing on 20.02.2024. 

 KEYWORDS: #AshokMittal, #AshokKumarMittal, #AshokMittalHotelRoyalPlaza, #RoyalPlazaDelhi, #HotelRoyalPlazaDelhi, #NandKishoreChaturvedi, #PushpakBillion, #BlackMoney, #Hawala, #Hillcrest, #NCLT, #IncomeTax, #EnforcementDirectorate, #IT, ITraids, ITraidhotelplaza, #proceedofcrime, #pmla, #uddhavthackeray, #moneylaundring, #indimostwantedhawaladealer, #HillcrestRealty, #LOC, #AshokMittalLOC, #LOCAshokMittal