PMC fraud: Praful Patel under ED lens for using Wadhawans' jet
IANS 16 October 2019
Caught in the eye of the storm over 'Dawood-Mirchi' links, former Union Civil Aviation Minister Praful Patel faces yet another embarrassment for frequently using private jets of Wadhawans, accused in the Rs 4,355 crore Punjab and Maharashtra Co-operative(PMC) bank scam.
 
Documents which are part of the Enforcement Directorate (ED), reveal that Patel, as the then Union Minister of Heavy Industry was a frequent flier on Wadhawans' luxury private jet Bombardier Challenger 300. 
 
The passenger manifest report of Mumbai Airport, dated March 31, 2012, reveals that Patel, Rakesh Wadhawan, promoter of Wadhawan group, Bollywood actress Preity Zinta and a few other VIPs boarded AVT PIL Bombardier for Delhi from Mumbai at 4.30 p.m. 
 
After a few weeks on 28 May, 2012, Patel boarded Wadhawan's Bombardier for his constituency Gondia from Mumbai with an American citizen identified as A. Scott, one Miss Kim Bora and two other passengers. A month later on June 23, the Nationalist Congress Party (NCP) leader charted VT PIL Bombardier again when he flew from Mumbai to Delhi. 
 
Sources in the ED said that Patel as then Union Minister continued to charter Wadhwan's private jets for a long time.
 
Involved in the dubious land deals allegedly executed by front man of drug kingpin Iqbal Mirchi, the NCP leader had been close to HDIL Chairman Rakesh Wadhawan, arrested in the multi-crore PMC bank scam, on charges of siphoning off public funds. 
 
During investigation, ED sleuths discovered that Wadhawans owned a company, Privilege Airways Pvt Ltd, which purchased two ultra-luxury jets Falcon 2000 and Bomabardier Challenger 300, out of the public funds. 
 
Both aircrafts were seized by the ED along with a fleet of Rolls Royce, Mercedes and BMW cars. The agency later procured the passenger list of both the aircrafts to ascertain whether luxury jets were loaned or given to the VIPs for a free ride. 
 
Sources said that the list procured from the airport authorities reflect that Patel, his family and friends were the frequent fliers.
 
While talking to media persons in Mumbai on Tuesday, Patel denied any links with D-company or Iqbal Mirchi and clarified that no money was exchanged with any member relating to any land deals. On links with Wadhawans and hiring his jets frequently despite being a public servant (Union Minister), Patel's version has yet to come. 
 
Sources said that Wadhawans, arrested in the PMC Bank scam had loaned their private jets to many politicians and Bollywood stars during the past 7-8 years. 
 
Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.
Comments
Tukaram Raja
7 years ago
All along it has been the borrowing customers of the bank cheating the despositors of the bank by not returning the bank dues. Now in India the bank has cheated the depositors, just for a change. Apparently the regulators which are RBI, DICGC, Finance Ministry and the so called F rauditors have joined together in this loot taking banking to new heights.
Nagaraju Bommanahalli
7 years ago
Due to Maharashtra election both parties are close their mouth about PMC scam ,all parties BJP Congress NCP shivasena involved and taken huge bribe.
I will ask both BJP and Congress,how much money recovered till today by selling assets of fraud persons who taken huge fraud loans,how much money returned to the bankrupted bank account holders , if you really honest give details how much fraud happen till today .don't do drama,I lost several lakhs from Alpic finance a NBFC in twenty five years back, but till today I have not received single paise , this Alpic finance company is a subsidiary of Cipla group, this NBFC done huge fraud,but till today no action taken, these companies go to court and take stay order for the sale of theirs assets, Court will drag the case to twenty to thirty years at that time all investers will die, these fraudessters enjoy our loot money with political leaders, these are all drama nothing will happen only poor will die
In India nobody knows how Indian companies are doing fraud from the beginning to last ,for example a big business men will start the company in India as below .His companies actual value is Rs2000crores but with the help of the auditors,Banks,and chartered accountants he made his company s values to RS 6000 crores by book adjustment with bribe and he call IPO that is in share market and collect Rs10000 crores in share market, first he pumped 60%of money to foreign country in the name of business and will deposit most of the money in his name next he will file bankruptcy due to losses and will write off all the loans this is the business doing in India ED is doing drama ICICI Bank chandakochar is well known to all she done huge fraud in ICICI Bank, this drama of enquire is doing from past one year, but still she is not arrested, reasons In this icici bank scam all SEBI auditors ED RBI central government rating agencies big leaders of all parties involved.central government making all efforts to avoid arrest these fellows,if arrested all all foreign country become knows most of the Indian companies running on bogus and take away all foreign investment,then India become bankruptcy.This is well known by central government hence avoiding all efforts to arrest directors of icici bank chandakochar DHFL jetairways Videocon kingfisher airline PNB bank head il@fs etc .even Vijaymalya kingfisher airline companies don't have single plane in his companies name but all banks gave Rs10000 crores money, same type loans gave to jet airways,DLF, Devan housing finance company,il@,fs,etc wait in few months most of the common people investment in icici bank NBFC PSU banks equity NCD mutul funds become Zero,All parties RBI officers, SEBI, etc are corrupt they are taking India towards bankruptcy.
P M Ravindran
7 years ago
I do not know if Praful Patel's role in the privatisation of Delhi and Mumbai airports and purchase of unwanted planes for air india will also reach any logical end.
Nagaraju Bommanahalli
7 years ago
In India nobody knows how Indian companies are doing fraud from the beginning to last ,for example a big business men will start the company in India as below .His companies actual value is Rs2000crores but with the help of the auditors,Banks,and chartered accountants he made his company s values to RS 6000 crores by book adjustment with bribe and he call IPO that is in share market and collect Rs10000 crores in share market, first he pumped 60%of money to foreign country in the name of business and will deposit most of the money in his name next he will file bankruptcy due to losses and will write off all the loans this is the business doing in India ED is doing drama ICICI Bank chandakochar is well known to all she done huge fraud in ICICI Bank, this drama of enquire is doing from past one year, but still she is not arrested, reasons In this icici bank scam all SEBI auditors ED RBI central government rating agencies big leaders of all parties involved.central government making all efforts to avoid arrest these fellows,if arrested all all foreign country become knows most of the Indian companies running on bogus and take away all foreign investment,then India become bankruptcy.This is well known by central government hence avoiding all efforts to arrest directors of icici bank chandakochar DHFL jetairways Videocon kingfisher airline PNB bank head il@fs etc .even Vijaymalya kingfisher airline companies don't have single plane in his companies name but all banks gave Rs10000 crores money, same type loans gave to jet airways,DLF, Devan housing finance company,il@,fs,etc wait in few months most of the common people investment in icici bank NBFC PSU banks equity NCD mutul funds become Zero,All parties RBI officers, SEBI, etc are corrupt they are taking India towards bankruptcy
dr.anandagarwal58
Replied to Nagaraju Bommanahalli comment 7 years ago
Very true
Monika Bhatia
7 years ago
#NOTA #NOVOTE
MAHARASHTRA ELECTIONS
PMC BANK VICTIMS NEED FASTRACK JUSTICE
DONT KILL PEOPLE
Monika Bhatia
7 years ago
RBI recapitalise pmc bank
You have assets seized attached
Do merger with larger bank
Release money of customer
Politicians are deemed murderers
They looted the bank
Y innocent people suffer
They declared investment
Paid taxes
Hardearned money savings of life of 30 40 years
Monika Bhatia
7 years ago
#need justice politicians looted pmc bank
Recapitalise pmc
RBI merge pmc with larger bank
Justice wanted
Monika Bhatia
7 years ago
Shocking news of deaths mounting whether cardiac arrest or suicides @pmc bank victims !!!!!
This was bound to happen.... Many many more with illness stress or deemed dead we aren't aware of....Bureaucrats looted the bank.And now they are not even worried of senior citizens who are loyal vote banks ; paid taxes ; declared investments;hardearned saving of entire life; such vulnerable section of society who are victims of pmc bank are suffering pains with sleepless nights and are restless.Why can't govt asks RBI to recapitalise the bank immediately if they say they have got enough assets seized and attached.Relief sd be expeditiously done.No more deaths and deemed death. NOTA and No Vote #pmcbank victims for Maharashtra Elections!!! Fast track resolution.
Free Helpline
Legal Credit
Feedback