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The Sunblink – RKW – Wadhawan Link: Money Trail to Terror Financing claims ED

The Enforcement Directorate (ED) have arrested Haroun Yousuf and Ranjit Singh Bindra in connection to forging real estate deals for Dawood Ibrahim’s terror organisation face in London – Iqbal Mirchi properties.

Haroon Yousuf is the Chairman of Sir Mohammad Yusuf Trust and is a British Citizen while Ranjit Singh Bindra who is the former director of RKW is a realtor and broker.

In its remand copy, ED claims that Ranjeet Bindra “negotiated with Iqbal Memon on behalf of M/s Sunblink Real Estate Pvt. Ltd. and finalized the deal and got brokerage/commission of Rs. 30 crore through market operators”.

One of the directors of Sunblink Real Estate had given statement saying that “The negotiations of the deal with Iqbal Mirchi and Humayun Merchant (a close confidant of Iqbal Mirchi with power of attorney) was undertaken by Ranjeet Singh Bindra and for the purpose he was to receive brokerage of Rs. 40 to 50 cr.”

ED in its investigations into the sale of Iqbal Mirchi’s properties discovered a money trail of Rs 2186 crores which was given to Sunblink Real Estate by a NBFC in India.

The current Directors on Sunblink Real Estate Pvt Ltd – Sunny Suresh Bathija who was appointed on December 10th 2009 and Mehul Anil Bavishi who was appointed as Director on December 1st 2010. The former Directors were Sandeep Dhuralal Shah and and Amit Ramesh Sawhney. Bathija is also Director of Cloud Nine Realtors Pvt Ltd with Amit Ramesh Sawhney.

Interestingly, Sunny Suresh Bathija was an Additional Director of Mindspace Buidcon Pvt Ltd from December 14th 2009 till December 17th 2009. When Bathija exited on December 17th, 2009, the Board of Directors appointed Dheeraj Wadhawan as a Director.

But that’s not all in the company Ultra Space Developers Pvt Ltd Sunny Suresh Bathija was Director from December 14th 2009 till February 5th 2010. Dheeraj Wadhawan was Director in this company from February 5th 2010 till November 4th 2014 while Ranjit Singh Bindra was Director from August 4th 2010 till September 29th 2012. The current Directors of this company are Prashant Margaje and Bhagwat Swarup Sharma.

ED investigations has revealed according to media reports that a Non-Banking Financial Company (NBFC) had started giving loans to Sunblink from 2010.

The ED believes this money — Rs 2,186 crore — was allegedly routed overseas by Sunblink into the accounts of Iqbal Memon, also known as Iqbal Mirchi.

The ED has not named DHFL as the NBFC in question, but Sunblink’s accounts for 2010 clearly indicate that it had received Rs 22 crore as loans from the troubled Mumbai-based financial services firm during the year.

In reaction to the Republic TV expose this afternoon, Dewan Housing Finance Limited (DHFL) has not denied offering loans to Sunblonk Real Estate Pvt Ltd.

Over a period of nine years, the total loan amount adds up to Rs 2,186 crore.

These funds were used by Mirchi to finance terror and purchase property in the Middle East, the ED claimed.

The amount of Rs 2,186 crore, according to the agency, was “laundered” and “subsequently used for terror financing”.

Humayun Merchant who was a close aide and financial advisor to Iqbal Mirchi is a key witness for the ED.

Merchant — in his statement to the ED — has revealed that the money paid by Sunblink was diverted to Mirchi through money laundering (Hawala) channels. These funds were used by Mirchi to buy a five-star hotel in Dubai, UAE, according to the documents filed by ED.

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