MGF owner accused of money laundering and fraud Interpole can anytime issue lookout notice Shravan Gupta also linked with 3600 cr. Augusta westland scam.
Government of India and UAE has jointly tightened noose around notorious activities of MGF owner Shravan Gupta, who is being investigated for syphoning of funds to offshore countries via hawala channel and fraudulent means. Extradition proceedings against Gupta has already set in motion who had fled to Britain last year. As per sources, he is linked with 3600 crore Augusta Westland chopper scam. CBI and ED has recovered incriminating documents from several raids at his centers. Interpol can anytime issue lookout notice against Shravan who has already applied for citizenship of commonwealth of Dominicia.
As per sources, the Mauritious company interstellar technologies, primarily accused of money laundering in 3600 crore Augusta westland scam, had transferred crores of rupees in Shravan Gupta’s known and discreet companies. Interstellar Technologies Ltd had deposited Rs 19.5 crore in the account of four companies of Mr. Gupta. While Rs. 4.5 crores had been transferred in many other shell companies, owned by him.
Enforcement Directorate has forfeited his properties worth Rs. 10.28 cr under prevention of money laundering act in December 2018. Gupta is accused of depositing crores of rupees in swiss banks via hawala channels. CBI has already taken up a case involving these dubious transactions. Besides having stake in real estate business, Shravan Gupta is a director in companies like MGF automobile, MGF Development, MGF housing, MGF infotech, MGF metro mall, MGF motors, MGF promoters, Peris resorts and Yashoda promoters etc.
Shravan and his wife are accused of cheating 43.5 crores rupees from Dubai’s well known real estate company Emmar Properties. During his partnership with Dubai’s company, he transferred 18 jointly owned prime properties to a compnay named Discovery Estates Pvt Ltd at 10 times lower market value. Interestingly, he and his wife owns 99 percent shares of this company.
Sources reveal that Shravan Gupta has successfully waylaid the judicial process by twist and misuse of the legal procedures. In Janurary 2019, he got the permission to travel to foreign by a special cbi court at Hyderabad by misuing the same judicial norms and procedures. ED had issued him summons for interrogation on 23rd november 2019 but he instead gave a medical certificate which suggested six days medical rest. But just after two days, he left India for England on 26th Novemeber. Agency issued him 9 notices, one after the other but neither he presented himself nor gave any supporting documents. At this, a NBW was issued against him on 29th August 2020. Since the date, Shravan has not appeared before the court or investigation agencies.
CBI had raided 9 locations of Gupta’s companies including Delhi and Gurugram to unravel unholy cobweb of his companies and illicit deals. During this raid, CBI has recovered many such documents and digital devices which records Gupta’s black money trail. Next day ED has raided 7 locations of Shravan Gupta and scanned documents related with 3600 crores Augusta westland chopper scam.
Investigative agencies have got the clue that absconding Shravan Gupta along with his family has applied for the citizenship of Commanwealth of Dominicia so that he can evade arrest by agencies. In the meantime, aggreived with the scale of fraud with Dubai company, UAE administration has begun tightening noose against Shravan Gupta. Sources confirm that Indian government has already set in proceedings to issue interpole look out notice against him and to also ensure his extradition from Britain.
