Goregaon finfluencer case: ED enters fray

Ashesh Kumar and Shivangi Mehta; Ajay Harinath Singh, owner of the Darwin Platform Group of Companies and alleged main beneficiary of the scam; Records of transactions that were termed fraudulent by the Enforcement Directorate

Following multiple mid-day reports on the Rs 200 crore fake arbitration case filed by Denron Rea-IT Trade Pvt Ltd against Bliss Consultants, owned by the arrested Goregaon couple Ashesh and Shivangi Mehta, the Enforcement Directorate (ED) on March 21 conducted searches at nine locations in Delhi, Mumbai and Goa linked to the former company. The ED has recorded statements from dummy directors, revealing that the main beneficiary of the scam is Ajay Harinath Singh, the owner of the Darwin Platform Group of Companies.

Singh's residence has been raided by the ED. mid-day's investigation has also uncovered direct links between Singh and the dummy directors of Denron Rea-IT Trade. The dummy directors earlier told mid-day that they were unaware of their status as directors of the company, and the ED has recorded statements from one of them.

Mohalla munch: Iftar food walk guide for Mohammad Ali Road in Mumbai

Fraudulent transaction

The ED raided Singh's premises based on the fake arbitration case involving R18 crore by Dlehman Rea-IT Trade Pvt Ltd [the previous name of Denron Rea-IT Trade] against Vestige Marketing Pvt Ltd (VMPL). The agency's Delhi zonal office conducted search operations under the provisions of the Prevention of Money Laundering Act (PMLA), 2002, at nine locations across Delhi, Mumbai and Goa on Thursday. "M/s Dlehman Rea-IT Trade Pvt Ltd, which is a private limited company involved in the legal, auditing and tax consultancy activities under the directorship of Hariprasad Akaloo Paswan and Ramesh Yadav Kumar and is controlled by Singh. The ED initiated the investigation based on an FIR registered by the Delhi police under Section 420 of the Indian Penal Code, 1860, wherein it is alleged that M/s Dlehman Rea-IT Trade Pvt Ltd & others had fraudulently transferred R18 crore from the bank account of the VMPL into the accounts of M/s Dlehman Rea-IT Trade Pvt Ltd in 2020," the ED said in its statement.

Hariprasad Akaloo Paswan, who has denied being director of Denron Rea-IT Pvt Ltd; (right) Ashesh Kumar and Shivangi Mehta

According to ED during the search proceedings, it was found that the transaction was carried out by submitting a fraudulent investment agreement before the sole arbitrator and by a fake authorised representative Md. Shamshuddin. "On the same day of the fraudulent transactions, the amounts were layered into multiple bank accounts of the Darwin Group of Companies and the personal bank accounts of the family members and some close associates of Singh," an ED official said.

"It was further revealed that the directors of M/s Dlehman Rea-IT Trade Pvt Ltd, Paswan and Kumar, were dummy directors and the entire transactional benefit was reaped by the Darwin Group of Companies owned by Ajay Harinath Singh," the official added.

According to ED, During search proceedings, approximately Rs 78 lakh in cash, the equivalent of R2 lakh in foreign currency, various digital devices and incriminating documents were seized from the residence of Singh and his associates.

According to the ED, the FIR registered by the EOW against Denron Rea-IT Trade involves similar fake arbitrations against Mehta and Mehta of Bliss Consultants, using bogus directors. The ED sources said that Denron Rea-IT Trade was previously named Dlehman Rea-IT Pvt Ltd, and was initially formed in 2018 under the name Sushama Trade Impex Pvt Ltd. According to the ED, Paswan and Kumar are dummy directors in all companies linked to the Singh of Darwin Group of Companies. mid-day's investigation revealed that both were unaware of their directorship in the said company. Paswan claimed to be a retired employee of Air India, stating that his documents were misused by Singh and his associate. Meanwhile, Yadav is currently absconding.

"We are investigating the money laundering aspect in the Rs 200 crore fake arbitration case against Bliss Consultants, and we have discovered that offences related to filing fake arbitration cases were registered against companies linked to Singh in Hyderabad," stated an ED officer. The ED also believe that the companies linked to Singh are suspected to have been involved in corporate hijacking using fake arbitrations.

The ED also raided Paswan's residence in Nalasopara West. Omkarnath Paswan, his son said, "At approximately 7.30 am, four individuals arrived and conducted a thorough search of the house and left around 2.30 pm. They extensively interrogated my father, recorded his statement, and seized documents, including details related to the Dlehman Rea-IT Trade."

mid-day's investigation

While reporting about the Mehta couple case, the name Denron Rea-IT Trade emerged for the first time. The company had obtained an arbitration order R260 crore, including interest. This order was submitted to Kotak Mahindra Bank, Andheri East, with handwritten corrections, instructing the transfer of R160 crores from Bliss Consultants' account to Denron. This occurred almost a week after the Mehta couple was booked by the Shivpuri Madhya Pradesh Khanadhaniya police in a drug case and the couple went underground.

After an extensive search, the reporter finally located the director of Denron Rea last month and met with one director Paswan, 75, at his residence in Nalasopara West. He claimed to have met one Ajay Pasi at a community gathering in Goregaon East.

Seeking part-time employment post-retirement, Paswan was informed by Pasi about an opportunity with Singh, who purportedly operated an import-export business from Saki Vihar in Andheri East.

Pasi facilitated Paswan's introduction to Singh, who later offered him a position as administration director at a company initially named Sushama Trade Impex Pvt Ltd, whose name was changed to Dlehman Rea-IT Trade in 2019. Alongside Paswan, Yadav, an auto driver from Goregaon East, was also appointed as a director. Despite attempts to reach Yadav, he remains untraceable.

Other side

A statement issued by Denron on Friday read, "We assure full cooperation with all investigating agencies and reaffirm our unwavering commitment to upholding the law. These matters are already within the jurisdiction of the Supreme Court and high court. We actively engage in legal proceedings, providing exhaustive documentary evidence to ensure transparency and uphold justice. Any perceived misunderstandings will undergo thorough clarification through due process within the judicial system.

Our stance remains steadfast in promoting transparency and accountability throughout this ordeal. Additionally, given that one of our group companies owns Lavasa, where we plan to erect the world's tallest statue of our revered Prime Minister, Shree Narendra Bhai Modiji, we suspect a potential political conspiracy aimed at defaming and maligning us, particularly during election times. We suspect that vested interests may be manipulating and misdirecting authorities. However, we are confident that the truth will prevail, and we will continue to navigate these challenges with integrity and resolve."

Mar 21
Day raids were conducted

Facts about Singh

The Darwin Platform Group of Companies deals in the manufacturing and trade of alternate fuels for refineries, hydrocarbons, electric vehicles, infrastructure, pharmaceuticals and retail businesses. Sources have revealed that Singh has close relations with major politicians. According to the company's website, it has assets worth Rs 68,0000 crore.