Delhi HC refuses to quash Ashok Mittal's LOC after IT finds evidence of BLACK MONEY

 

Bharat Jeetega, Corruption Meetga!

PUBLIC INVESTIGATION

EXPOSE ON INDIA'S MAJOR HAWALA RACKET

Key players: Nand Kishore Chaturvedi and Ashok Mittal (Note: All facts and documents are public and submitted in court. Here is the link of key document: 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.)

Delhi HC refuses to quash Ashok Mittal's LOC after IT finds evidence of BLACK MONEY

By Rose

#AshokMittal of #hotelroyalplaza is in trouble after the #DelhiHighCourt recently refused to quash the #LOC (Look Out Circular) opened against him by the #IncomeTax authorities for alleged involvement in dubious #blackmoney investment made in the hotel in partnership with #NandKishoreChaturvedi, India's most wanted #hawaladealer. The center of the IT probe into the hotel plaza involves the investment made through two benami companies  Hillcrest Realty, and Cardiff Limited. The history of the illegal takeover of Hotel Royal Plaza goes back to the ill-gotten tainted or black money of Rs. 28.29 crores of Ashok Mittal, which was channelled through money laundering with the help of  Nand Kishore Chaturvedi, to the Swiss bank account of Ashok Mittal's son Vikram Mittal, who had in turn laundered it to a company called Cardiff Ltd. 

Details of  IT raids on #NandKishoreChaturvedi are here: https://www.indiatoday.in/india/story/income-tax-dept-raids-hawala-operator-nandkishore-chaturvedi-entities-several-states-2390183-2023-06-08 and his partner #AshokMittal here: https://economictimes.indiatimes.com/news/india/i-t-dept-raids-hotel-royal-plazas-chairman-for-stashing-rs-40-crore-abroad/articleshow/93074759.cms; Subsequently opening of #LOC by IT department against Ashok Mittal is here: 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

This is how #ashokmittal, #vikrammittal and #nandkishorechaturvedi laundered their ill-gotten black money of Rs 28.29 crores, as under:

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.

 

The preference shares were issued for 20 years, and therefore, w.e.f. July 20, 2023, the preference shares ceased to exist, and the voting rights given to the preference share holder also ceased to exist. Hillcrest Reality SDN. BHD., Malaysia, took over the control of Hotel Royal Plaza via court orders dated July 14, 2009, and July 20, 2009, and constituted the Board of Directors of Hillcrest Reality SDN. BHD., Malaysia. Since Hillcrest Reality SDN. BHD., Malaysia, ceased to hold any preference shares in Hotel Royal Plaza w.e.f. July 20, 2023, Hotel Royal Plaza is currently without a validly appointed board of directors. Ram Parshotam Mittal, alleging to hold 99.99% equity in Hotel Royal Plaza, has now knocked on the doors of NCLT by filing interim applications being IA No. 384 of 2023 in CP No. 992 of 2005, IA No.385 of 2023 in CP No. 1832 of 2008 and IA No.386 of 2003 in CP No.47/ND/2010 to take over control and management of the hotel. R.P. Mittal Group and Ashok Mittal are anxiously eyeing the ruling of the NCLT. https://www.republicworld.com/business/industry/nclt-to-rule-on-fate-of-historic-royal-plaza-hotel-in-ownership-dispute.news

For more details on shares structures read this: https://ashokmittalhotelplaza.blogspot.com/2023/12/jeetega-corruption-meetaga-public.html

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