ED to focus on tracking down INR 55 lakhs received by Sanjay Raut's wife Varsha

The Enforcement Directorate (ED) will be focusing their energies on tracking down the Punjab and Maharashtra Cooperative Bank fraud accused Pravin Raut's assets worth INR 72 crores after the agency attached properties of the businessman in a bank scam where the financial trail leads to Sanjay Raut’s wife, Varsha Raut. According to sources, Varsha Raut will be interrogated in this regard.

The questions that have been raised by the ED officials after the attachment of properties is that where did the accused Praveen Raut invest the said amount? As per the officials, they are looking into the matter and the investigation is underway into Pravin Raut's investments.

The Mumbai Police's Financial Crimes Branch had registered a case against Housing Development Infrastructures Ltd’s (HDIL) Rakesh Wadhwan, Sarang Wadhwan, chairman of PMC Bank Wariam Singh, and its managing director Joy Thomas and others under sections 409, 420, 465, 466, 471 and 120 (b) of the IPC for embezzling INR 4,355 crores from PMC Bank.

The ED's investigation has revealed that Pravin Raut had siphoned off INR 95 crores through HDIL. However, no documents of this transaction have been made. According to the information given by the ED, the land at Palghar was taken through the money. Apart from this, Praveen had given INR 1.6 crores to his wife Madhuri Raut. Of which, INR 55 lakh (INR 50 lakh on December 23, 2010 and INR 5 lakh on March 15, 2011) was given as an interest-free loan to Shiv Sena leader Sanjay Raut's wife Varsha Raut. The money was used to buy a house in Dadar (East).

Earlier, the ED had seized assets worth INR 293 crores belonging to Rakesh Wadhwan and Wadhwan family. Jewellery worth INR 63 crore has also been seized.

Moreover, the investigation further revealed that Madhuri Raut and Varsha Raut are partners in the Avni construction company, the ED said. While there was a contribution of only INR 5,625, he had received INR 12 lakh in the form of overdue capital. Later, it was converted into debt.

The ED recently summoned Varsha Raut for questioning with regard to this transaction and few other deals leading to a political blame game between Maharashtra and the Centre with various constituents of the Maha Vikas Aghadi (MVA) government in the state alleging that the Centre is using federal probe agencies to harass them.

Varsha Raut skipped the agency's notice thrice and is now expected to join ED probe in Mumbai on January 5.