Actor-producer-businessman Sachin Joshi (of the JMJ group which manufactures Goa pan masala) was allegedly paid crores of rupees by builders Omkar Group for clearing hurdles pertaining to its slum redevelopment project at Wadala in Bombay, the Enforcement Directorate officials said. He was arrested on 14th February in connection with “suspicious” transactions to the tune of Rs. 100 crore in a money-laundering case being probed against real estate developer Omkar Group, and remanded to judicial custody the following day till 18th February by a Prevention of Money Laundering Act (PMLA) court. Sachin had been picked up by ED officials on 13th night for questioning. He was arrested the following day for not cooperating in the probe.
The remand plea said that with respect to funds received by Joshi against various invoices raised by him, the purpose mentioned in the said invoices was facilitating settlement of non-eligible tenants and possession of constructed rehabilitation units, besides help in getting consent from society, slum-dwellers, committee members, brokerage towards land deal etc. Omkar Group promoters told the ED, they paid Joshi Rs. 87 crore for evacuating and shifting slum-dwellers from Wadala. Joshi, however, said that he received Rs. 39 crore to become the brand ambassador for the Group’s Wadala project. He added that he received Rs. 48 crore additionally from the Group as an investment in his company. He emphasised that no agreement was entered into for both the payments.
According to the ED, loans availed from Yes Bank had been diverted, and Sachin had helped the realty company’s promoters divert at least Rs. 87 crore. Joshi’s lawyers opposed the plea for remand, saying that he had no connection with the case.
The ED had arrested Omkar Group chairman Kamal Kishor Gupta and managing director Babulal Varma on 28th January in a Rs. 410-crore money-laundering case connected with the SRA fraud case.
