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IL&FS case: Raj Thackeray summoned by ED

According to sources, ED wants to quiz Thackeray on his exit from the group.

ET Bureau|
Updated: Aug 19, 2019, 10.37 AM IST
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Kohinoor Building case: ED issues notice to MNS chief Raj Thackeray
Kohinoor Building case: ED issues notice to MNS chief Raj Thackeray
MUMBAI: The Enforcement Directorate (ED) probing allegation on money laundering in the over Rs 91,000 crore debt strapped IL&FS has summoned Maharashtra Navnirman Sena (MNS) chief Raj Thackeray and Unmesh Joshi, son of former Maharashtra chief minister and senior Shiv Sena leader, Manohar Joshi.

According to sources, Thackeray has been asked to join the probe on Thursday.

The federal agency is probing, IL&FS group’s loan and equity investment amounting to Rs 860 crore in Kohinoor CTNL, the company constructing Dadar’s Kohinoor Square towers. Kohinoor CTNL is one of the defaulters.

According to sources, ED wants to quiz Thackeray on his exit from the group. The probe has revealed IL&FS group had invested Rs 225 crore in the company. In 2008, IL&FS surrendered its shares for only Rs 90 crore and booked a loss. Thackeray exited the consortium by selling his shares, the same year.

Subsequently IL&FS advanced loans to Kohinoor CTNL, which it allegedly failed to repay. In 2011, Kohinoor CTNL entered into an agreement to sell some commercial-residential premises in Kohinoor Square to IL&FS and settled Rs 500 crore pending loan amount. After the settlement, IL&FS lent a further Rs 135 crore to Kohinoor CTNL, on which it defaulted.
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