Top
Home ยป India

Acting on whistleblower's complaint, ED raids Vijay Mallya's associate

India
DC Correspondent
29 July 2019 6:41 PM IST
The investigative agency has found evidence against Shashikant that he was using dummy companies.
The Enforcement Directorate (ED) is set to register three separate cases to probe the alleged irregularities in certain contracts awarded by the Delhi governments Public Works Department (PWD).
x
According to ED, accused Mohit Garg, Nitin Gupta, and Rajeev Singh Kushwaha used to collect demonetised form of currency from different persons and deposited them into the account of shell firms/ companies operated by Rajeev Singh Kushwaha.

New Delhi: The Enforcement Directorate (ED) has raided V Shashikant, a close associate of fugitive liquor baron Vijay Mallya.

The investigative agency has found evidence against Shashikant that he was using dummy companies.

Shashikant is the former Managing Director of United Breweries Holding Ltd.

The ED raids are based on a complaint of a whistleblower that Shashikant owns a company named Ultimate Branding Worldwide which is exporting Kingfisher beer at a discounted price to a company Tammy International, allegedly owned by Shashikant's son-in-law.

This company, in turn, sells it at a premium to buyers in Singapore, UAE, and Malaysia.

According to the complaint, profit generated through this is allegedly being repatriated to Mallya through overlapping transactions to fund his daily maintenance and expenses.

Enforcement Directorate Vijay Mallya Shashikant 
DC Correspondent
About the AuthorDC Correspondent

    Similar Posts

    Next Story
    X
    sidekick