Transaction between Yashwant Jadhav and bizman from an IT perspective

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The Income Tax Department is investigating a Rs 15 crore deal between former BMC standing committee chairman Yashwant Jadhav and a media company owned by Mumbai-based businessman Bimal Agarwal, who is also accused in the T20 IPL cricket betting case. , sources said.

The department is also said to be investigating contracts worth Rs 30 crore, including a contract to manufacture khichdi which was awarded by the BMC to Agarwal-owned companies during the Covid-19 pandemic in 2020-21, although the companies did not have no previous experience in the execution of such contracts.

The department reportedly discovered that a Kolkata-based shell company, Pradhan Dealers Private Limited, provided unsecured loans of Rs 15 crore to Jadhav’s family members, including his wife, in 2019-20.

Following an income tax investigation into an unsecured loan of Rs 1 crore made by Jadhav’s wife, Yamini Jadhav – also MP for Byculla – of Pradhan Dealers, Jadhav’s family in 2020- 2021 returned Rs 15 crore to Pradhan Dealers.

Sources said that in the same year, Pradhan Dealers redirected Rs 15 crore to Mumbai-based Newshawk Multimedia Private Limited, owned by Agarwal. Out of Rs 15 crore, Newshawk used Rs 4 crore to purchase the Bilakhadi Chambers building at Mazgoan in Mumbai, which is also Jadhav’s residence. The remaining Rs 11 crore was reportedly transferred by Newshawk to Jadhav’s mother-in-law.

Bilakhadi Chambers has 108 units, most of which are occupied by tenants. Jadhav is said to have four to five such units. However, the tax investigation has now revealed that Newshawk Multimedia owned at least 31 units in Bilakhadi Chambers. This, after a number of tenants waived their occupancy rights in favor of the company.

Sources said the department had recorded statements from a few tenants who alleged they received Rs 30 lakh each in cash to waive rental rights.

The tax agency, according to sources, also found about 45 benami properties from Jadhav.

Newshawk media, according to records, was established in 2010 and Agarwal has been a director of the company since its inception. Agarwal recently made headlines after filing a complaint with the Mumbai police against his former commissioner Param Bir Singh, alleging extortion.

In 2017, Agarwal was arrested by the ED in connection with its money laundering investigation against his own officer JP Singh for allegedly collecting protection money from bookmakers to prevent arrests in the scam. IPL bets of Rs 5,000 crore. Agarwal was also arrested by the CBI after convicting Singh under the Prevention of Corruption Act.

In 2020, Jadhav was embroiled in controversy after an alleged audio clip of him threatening a contractor to back out of projects went viral. Last January, BMC’s BJP leaders wrote to file a no-confidence motion against him, alleging that he had not allowed Standing Committee members to speak out on corruption regarding various projects that had been submitted to panel approval.

While Agarwal declined to comment on the matter, Jadhav was unavailable for comment despite repeated attempts.

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