Due to many suspicious transactions from accounts at a bank in Maharashtra’s Sangli, the Enforcement Directorate (ED) has questioned the brother of Nationalist Congress Party (NCP) politician Jayant Patil in connection with a VAT-related case.
Hotelier Patil’s brother was questioned about his dealings with the Pune-based business. On Sunday, Patil disclosed that four days prior, the ED had called his brother in for questioning.
According to authorities, the investigation centred on transactions from accounts at the Rajaram Bapu Sahkari Bank and was connected to a prestigious organisation that has activities in Pune and Sangli.
In June, the ED conducted searches at 16 different Sangli locations, including Rajarambapu Sahakari Bank Limited’s offices, as part of its investigation into allegedly questionable sales tax refunds.
The enterprises operating beneath the radar used a number of accounts from the cooperative bank for deposits and withdrawals. The claimed transactions occurred more than ten years ago, and there have also been recorded police proceedings related to the topic. It was reported that around Rs 1000 crore had been made via VAT refunds.
In May, the ED summoned former Maharashtra minister Jayant Patil to give a statement in a case involving money laundering involving the indebted Infrastructure Leasing & Financial Services Limited (IL&FS) Group of firms. IL&FS previously experienced a payment difficulty and declared bankruptcy in 2018.
The ED then started a new investigation after searching the Mumbai offices of Deloitte Haskins and Sells and BSR and Associates, the two former IL&FS auditors.
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