The ED registered a case of money laundering on the basis of an FIR registered by the Mumbai Police's Economic Offences Wing against Lakdawala and others for forging the documents related to the land worth Rs 50 crore, situated in Khandala area of Pune
Photo for representational purpose
The Enforcement Directorate on Friday said that it has arrested former film producer Yusuf M. Lakdawala in a money laundering case involving grabbing of land in Maharashtra's Khandala area belonging to an erstwhile Hyderabad Nawab.
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An ED official said that Lakdawala was arrested in land grab case and produced before a court which sent him to ED's custody till June 2.
The ED registered a case of money laundering on the basis of an FIR registered by the Mumbai Police's Economic Offences Wing against Lakdawala and others for forging the documents related to the land worth Rs 50 crore, situated in Khandala area of Pune.
The official said that during the money laundering investigation, search was conducted on the various premises related to Lakdawala and various incriminating documents and electronic data were seized from his premises.
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He said that further probe revealed that Lakdawala has many dummy or shell companies.
"On scrutiny of bank accounts of these companies, it was revealed that these companies do not have profitable business, however, transactions of crores of rupees have been made through these shell companies," he said.
The financial probe agency official also said that it was found that funds were layered through these shell companies to hide the original source and the same was utilised to purchase the immovable properties of crore of rupees over the period.
In order to purchase these properties, commission was given to other accused persons, which was routed through the shell companies of Lakadawala, he said.
The said land belongs to erstwhile Hyderabad Nawab, Himayat Nawaz Jung Bahadur.
Accused of forging signatures to grab the land, Lakdawala was arrested by Mumbai Police's Economic Offences Wing in April 2019 from Ahmedabad airport while trying to flee to London.
Lakdawala and his associate, Mohan R. Nair, were booked on the complaint of Maval taluka's Sub-Registrar Jitendra Badgujar for usurping the 4.38 acres land.
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