WANTED HAWALA DEALER NAND KISHORE CHATURVEDI IN COLLUSION WITH ASHOK MITTAL USED ILLGOTTEN MONEY TO GRAB HOTEL ROYAL PLAZA AT ASHOKA ROAD, DELHI

   

Bharat Jeetega, Corruption Meetega!

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.)

WANTED HAWALA DEALER NAND KISHORE CHATURVEDI IN COLLUSION WITH ASHOK MITTAL USED ILLGOTTEN MONEY TO GRAB HOTEL ROYAL PLAZA AT ASHOKA ROAD, DELHI

By Sarah Paul

The Five-star Hotel Royal Plaza at Ashoka Road, near the BJP's party office, is at the center of a multi-agency probe for alleged corruption and money laundering. The investigation has revealed that #AshokMittal, in collusion with India's #mostwantedhawaladealer, #NandKishoreChaturvedi, used ill-gotten money to purchase the hotel. They allegedly pumped their ill-gotten money into the hotel from a Malayasia-based benami company, #Hillcrest, through the FDI (foreign direct investment) route, in violation of the Foreign Exchange Management Act (FEMA) This has led to the income tax authorities conducting raids at the hotel and other businesses of two individuals in 2022. The raids were conducted to investigate the alleged violation of #FEMA and the income tax laws. https://economictimes.indiatimes.com/news/india/i-t-dept-raids-hotel-royal-plazas-chairman-for-stashing-rs-40-crore-abroad/articleshow/93074759.cms. The income tax authorities subsequently issued a #LOC (Look Out Circular) against Ashok Mittal to stop him from flying away from India. 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; https://www.indiatoday.in/india/story/income-tax-dept-raids-hawala-operator-nandkishore-chaturvedi-entities-several-states-2390183-2023-06-08

The murky details of the hotel's financial dealings, especially those pertaining to the ownership of Hillcrest, have come out in full detail in the court's papers submitted before various courts including NCLT, which is currently hearing the case, for the purpose of determining the legitimacy of the hotel's ownership structure. The dispute is between two brothers and business partners in the property: the majority equity holders, RP Mittal, and the minority holder, Ashok Mittal. For the last 15 years, the hotel's management control has been with the shady company Hillcrest, which is indirectly controlled by Ashok Mittal and Nand Kishore Chaturvedi. https://www.republicworld.com/business/industry/nclt-to-rule-on-fate-of-historic-royal-plaza-hotel-in-ownership-dispute.news

RP Mittal's petition highlights details of the documentary evidence to establish an almost two-decade business relationship with Ashok Mittal and Nand Kishore Chaturvedi. It alleges:

In order to illegally takeover the control of Hotel Royal Plaza, Ashok Mittal for and on behalf of Hillcrest Reality SDN. BHD. (being 8.5% 28,29,290 Nos. Redeemable Preference Shares Holder aggregating to Rs.28.29 Crores) and through its Power Attorney Holder namely Nand Kishore Chaturvedi (the Biggest Money Launderer / Hawala Operator)on the strength of claiming 75.86 % voting rights under Section 87 (2) of the Companies Act 1956 and also by claiming the Hotel Royal Plaza to be a Public Ltd. Company sent notices dated 01.06.2005, 26.06.2005, 08.07.2005 and 18.07.2005 to illegally remove Ram Parshotam Mittal and his wife and Mrs. Sarla Mittal from the Directorships of Hotel Royal Plaza and to illegally appoint J.K. Gupta, and Vikram Mittal as the Directors of Hotel Royal Plaza in the Extra General Board Meeting convened on 04.08.2005. Against these notices, Hotel Queen Road Pvt. Ltd. filed CS (OS) No.992 of 2005 on 22.07.2005 before the Hon’ble Delhi High Court seeking a “Declaration that the notices dated 01.06.2005, 26.06.2005, 08.07.2005 and 18.07.2005 are wrongful, illegal and null and void and cannot be given effect to and are not binding on Hotel Royal Plaza”.

During the pendency of the Suit, the Extra Ordinary General Body Meeting was held on 04.08.2005, and Ram Parshotam Mittal and his wife Sarla Mittal were removed as the Directors of Hotel Royal Plaza and JK Gupta and Vikram Mital were appointed as the new Directors of Hotel Royal Plaza. Delhi High Court vide its Interim Order dated 12.08.2005 passed in IA No.5505 of 2005 (under Order 39 Rule 1 and 2 CPC) in CS (OS) No.992 of 2005) held that “meeting held at the instance Hillcrest is illegal and resolution, if any, authorising removal of R P Mittal and Sarla Mittal and appointment of new Directors JK Gupta and Vikram Mittal on their behalf is held to be ineffective. Delhi High Court restrained Hotel Royal Plaza from  giving effect to any such resolution which may have been passed.” Thereafter an appeal bearing No. FAO (OS) No.282 of 2005 was filed challenging the Order dated 12.08.2005 in which no Interim Order was passed. During the pendency of the FAO (OS) No. 282 of 2005, Hillcrest Reality SDN. BHD had on 20.08.2008 filed an independent Suit before  Delhi High Court through its Power of Attorney Holder, (the Biggest Hawala Operator / Money Launderer / the Absconding Fugitive, Nand Kishore Chaturvedi being CS (OS) No. 1832 of 2008 seeking a “Decree of Declaration that Hotel Queen Road Pvt. Ltd. is an independent Company and that Section 85 to Section 90 of the Companies Act relating to voting rights of Preference Shareholders applies to Hotel Queen Road Pvt. Ltd. as a Public Limited Company.

RP MITTAL'S PURCHASED HOTEL DURING DISNVESTMENT USING HIS HARD END MONEY, BUT LATER ASHOK MITTAL PUMPED BLACK MONEY THROUGH FDI ROUTE IN NAME OF USING IT FOR RENOVATION PURPOSES TO GRAB IT.

The petition details the sequence of events and various claims of RP Mittal, his wife Sarla Mittal and his family members.

That under the disinvestment Plan of ITDC, a Special Purpose Vehicle Company namely Hotel Queen Road Pvt. Ltd. (which was the owner of Hotel Yatri Niwas now known as Hotel Royal Plaza) was acquired by Ram Parshotam Mittal and Sarla Mittal and their family members through their Company namely Moral Trading and Investment Pvt. Ltd. for a total consideration of approx. Rs. 43.05 Crores, out of which Rs.16.49 Crores was paid for purchasing 99.99% Shareholdings of Hotel Queen Road Pvt. Ltd. and the balance amount was paid for payment of various other liabilities. R P Mittal further arranged and spent an additional amount of Rs.101.28 Crores for the upliftment and renovation of the Hotel.   Ram Parshotam Mittal, and his wife Mrs. Sarla Mittal were appointed as the Directors of Hotel Royal Plaza. Ram Parshotam Mittal became the Chairman of Hotel Royal Plaza. Due to love and affection which Ram Parshotam Mittal had for his younger brother Ashok Mittal, Ashok Mittal was also given One (1) Equity Share in Hotel Royal Plaza and he was also made as Additional Director of Hotel Royal Plaza. In the year 2001-2003, Ram Parshotam Mittal, Chairman Hotel Royal Plaza had been undergoing medical treatment for heart problems (including open heart bye pass) and treatment for other medical complications, and he allowed Ashok Mittal to look after the operations of Hotel Royal Plaza. Taking undue advantage of the medical complications and the trust which R.P. Mittal reposed in his younger brother, Ashok Mittal stabbed  him on his back and indulge into criminal activities /acts of oppression and management to illegally take over the control of Hotel Royal Plaza. With these malafide intentions, in the year 2003, Ashok Mittal generated Undisclosed Black Money/ Proceeds of Crime of Rs.40 Crores from the operations of Hotel Royal Plaza. Thereafter with the help of the Biggest Hawala Operator / Money Launderer / Absconding Fugitive Nand Kishore Chaturvedi, Rs.40 crores were parked by   Ashok Mittal into the Citibank Account of his son Vikram Mittal in Switzerland. Ashok Mittal with the help of his son Vikram Mittal and with the help of the Biggest Hawala Operator / Money Launderer / Absconding Fugitive Nand Kishore Chaturvedi incorporated Shell Entity in the form of Malaysian Company namely Cardiff Limited, (which is a Company of only US$1 Share Capital equal to INR 50/- in the year 2003). Cardiff Ltd. further acquired as its 100% subsidiary another Malaysian Shell Company Hillcrest Reality Sdn. Bhd., (which is again a Company of only RM 2 Share Capital equal to INR 23/- in the year 2003). Ashok Mittal became the Director of Cardiff Limited. These Malaysia Based Shell Companies were infact the Benami Companies of   Ashok Mittal and   Vikram Mittal. These shell Companies were utilised by Ashok Mittal and Vikram Mittal and the Biggest Hawala Operator / Money Launderer / Absconding Fugitive Nand Kishore Chaturvedi for the purpose of laundering / wheeling/ routing the “Proceeds of Crime of Rs.28.29 Crores” (out of the total Proceeds of Crime of Rs.40 Crores), first into the Citibank Account of Vikram Mittal in Switzerland and then into the Bank Account of Cardiff Limited in Malaysia and from there to the Bank Account of Hillcrest Reality SDN. BHD. Thereafter under the garb of bringing Foreign Direct Investment in Hotel Royal Plaza, the Proceeds of Crime of Rs.28.29 Crores were invested by Hillcrest Reality SDN. BHD into Hotel Queen Road Pvt. Ltd. by acquiring in two tranches a total of 28,29,290 Nos. 8.5% Redeemable Preference Shares of Rs.100/- each aggregating to Rs.28.29 Crores of Hotel Queen Road Pvt. Ltd. (comprising of 23,65,000 Nos. of Preference Shares of Rs.23.65 Crores on 05.05.2003 and 4,64,290 Nos. of Preference Shares of Rs.4.24 crores approx. on 19.07.2003) vide Share Certificate No.101 dated 05.05.2003 and Share Certificate No.102 dated 19.07.2003. These 8.5% 28,29,290 Nos. Preference Shares were redeemable after expiry of period 20 years from the date of issue. The Biggest Hawala Operator / Money Launderer / Absconding Fugitive Nand Kishore Chaturvedi became the Power of Attorney Holder of Hillcrest Reality SDN. BHD. The Income Tax Department have booked Ashok Mittal, his son Vikram Mittal, his wife Nirupama Mittal and his daughter Ruchi Mittal and others for offences under Section 50 & 51 of the Black Money (Undisclosed Foreign Income and Assets) Imposition of Tax Act, 2015, (Annexure IA6, IA-7 and IA-8). The Income Tax Department and Directorate of Enforcement are also on look out the Absconding Fugitive Nand Kishore Chaturvedi since June 2017.

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