ED raids Viva Group run by the household of Maharashtra MLA Hitendra Thakur

The Enforcement Directorate (ED) Friday searched the places of work of Viva Group run by the household of Vasai MLA and chief of Bahujan Vikas Aghadi, Hitendra Thakur, in reference to its probe into the alleged Rs 6200 crore fraud perpetrated by Housing Development Infrastructure Ltd (HDIL) at Punjab and Maharashtra Co-operative (PMC) Bank.
Sources stated the searches have been performed in 5 areas after the company allegedly discovered transfers of about Rs 250 crore from HDIL to a clutch of corporations related to Viva Group. These transfers, the ED has alleged, have been performed to siphon cash from HDIL.
According to sources, HDIL had an settlement with the Viva Group for procurement of land since 2008-09. HDIL agreed to pay fee for land procurement and in addition gave 30 per cent sale rights to Viva Group. The ED, sources stated, has allegedly discovered that about Rs 250 crore was transferred from HDIL to Viva Group companies over and above the settlement signed between the 2 events.
Sources, acquainted with the case, stated a portion of the cash was additionally transferred to corporations managed by the Thakur household that weren’t concerned in any sort of land procurement.
Earlier this month, the ED summoned Mehul Thakur, director of Viva Group and a chartered accountant for questioning within the case. However, sources stated that the 2 officers didn’t cooperate with the probe company and didn’t submit paperwork pertaining to the case with ED.

Viva Group has claimed that HDIL owes it Rs 750 crore.
PMC Bank is below regulatory restrictions after the Reserve Bank of India (RBI) came upon monetary irregularities in its functioning, hiding and classification of loans given to HDIL .The financial institution has an publicity of over Rs 6200 crore to HDIL. The RBI has outdated the board of the financial institution and has appointed an administrator. The promoters of HDIL — Rakesh Wadhawan and Sarang Wadhawan — are presently in jail within the PMC Bank rip-off case.