The IL&FS case and the Raj Thackeray link, a timeline

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Updated: Aug 22, 2019 13:22 IST

Raj Thackery, Maharashtra Navnirman Sena chief, on Thursday appeared before the Enforcement Directorate in connection with the probe into the Infrastructure Leasing & Financial Services (IL&FS) case, days after his former business partner Unmesh Joshi was questioned.

The MNS leader reached the ED office around 11.30 am, accompanied by wife Sharmila, son Amit and daughter in law Mitali. After Raj entered the office alone, his family members camped at a nearby hotel.

In preparation for the MNS chief’s questioning the Mumbai police imposed section 144 of CrPC (banning unlawful assembly) outside the ED office and in some parts of Dadar, where Thackeray resides and parts of central Mumbai.

Meanwhile, MNS leader Sandeep Deshpande, wearing a tee shirt with “EDiot Hitler” with a emblazoned on it, was taken into custody by police Thursday morning.

Here’s a look at the IL&FS case, in which the MNS leader is being probed:

*The IL&FS group, whose dues amount to around ₹91,000 crore, defaulted on some of its debt and is facing money laundering probe.

* Kohinoor CTNL, company set up by Raj Thackeray, Unmesh Joshi (son on Sena leader Manohar Joshi) and builder Ranjan Shirodkar in 2005, is being probed because it received loan and equity investments adding up to ₹860 crore from IL&FS.

* The ED is investigating how the money from IL&FS has been utilized by the company.

*The Kohinoor CTNL constructed the 52-storey ‘Kohinoor Square’ building at a prime location in Mumbai’s Dadar but the project was mired in litigation.

* In 2008, IL&FS booked a loss by selling its Kohinoor CTNL shares for ₹90 crore, taking a hit of ₹135 crore.

*Thackeray also exited by selling his shares in 2008, probe revealed.

* In 2011, Kohinoor entered into an agreement to sell certain premises of the skyscraper to IL&FS group and settle the amount but it again defaulted, as per the allegations.

* Following Kohinoor CTNL’s inability to repay its loans, Joshi lost control of the company to architectural firm Sandeep Shikre and Associates in January.