Enforcement Directorate to reinvestigate Lalit ModiDushyant Singh case

  • | Tuesday | 12th February, 2019

Modi bought these shares with a face value of Rs 10 at a premium of Rs 96,180 each. JAIPUR: The Enforcement Directorate on Monday informed the Delhi High Court that it has decided to order a reinvestigation into the case of a company allegedly owned by former CM Vasundhara Raje’s son Dushyant Singh in which former IPL commissioner Lalit Modi had invested Rs 11.63 crore. A total of Rs 11.63 crore was transferred by Lalit Modi to Dushyant’s firm through loan and share purchase.Dushyant, his wife are directors in Niyant Heritage Hotels in which they had invested Rs 50,000 each. ED told the Delhi HC bench of the chief justice that it would submit a status report by May 8 on a writ petition moved by Jaipur-based lawyer Poonam Chand Bhandari in 2015.Bhandari has alleged the ED has been playing “delaying tactics” on one pretext or the other in the case. The company, NHHPL, had a total authorized capital of Rs 10 lakh only when the company was incorporated in 2005, according to the petitioner.The unusual price that Modi’s Anand Heritage offered Dushyant to buy shares in his firm, floated during Raje’s first tenure as CM (2003-2008), caught the attention of investigators.

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