Enforcement Directorate attaches four properties worth ₹98.20 crore of Rosary Education Group’s Vinay Aranha and Vivek Aranha
Pune : NpNews24 Online – Pune Crime News | The Enforcement Directorate (ED) has attached four properties of Rosary Education Group’s Vinay Aranha and his partner Vivek Aranha worth ₹47.1 crore. The ED has taken this action because Cosmos Bank has been cheated by taking a loan after submitting fake documents. Among the attached properties are the land of Rosary Education Group and the Rosary School building. (Pune Crime News)
ED said on Monday that four properties of Rosary Education Group’s partners Vinay Aranha and Vivek Aranha including their land school building had been attached under the PMLA. This action has been taken as a part of an investigation into the cheating of a cooperative bank. ED said that after orders were received, four properties were attached under the provisions of PMLA.
The market value of the properties attached by the ED is ₹98.20 crore. Vinay Aranha was arrested on March 10. When he was produced before the Additional Sessions Judge of the Mumbai City and District Court, the court had remanded him to ED custody till March 20. It has been alleged that Vinay Vivek Aranha has cheated the bank.
Shivaji Vitthal Kale of Cosmos Bank had lodged a complaint against Vinay Aranha and Vivek Anthony Aranha. It has been alleged that the accused submitted fake property documents and took a loan of ₹20.44 crore from Cosmos Bank in 2013-14. An FIR of money laundering has been registered against Vivek Aranha and Vinay Aranha. The ED has started a probe based on the complaint by Shivaji Kale.
During the ED investigation, it has become clear that Vinay Aranha had taken loan for renovation and redevelopment of schools of Rosary Education Society. However, instead of using the money for the schools, he transferred the money with the help of his friends and colleagues to M/S Paramount Infrastructure, Shabbir Patanwala, Ashwin Kamat and M/S Deepti Enterprises.
During ED investigation, it came to light that the people whom Vinay Aranha had given money, did not use the, for the schools. Vinay Aranha took ₹34 crore in cash, it was proved during the investigation. Despite being given repeated opportunities, Aranha did not submit the details of the expenditure of the money. Vinay Aranha did not maintain accounts of income and expenditure from 2012 in the school and did not pay income tax.
Summons had been issued to Vinay Aranha since he was not cooperating during the investigation. Later, he was arrested on March 10, the ED said.
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