ED conducts searches at Umang Thakkar led Dharmadev Infra premises in Ahmedabad

Ahmedabad: Enforcement Directorate carried out searches at premises of Umang Thakkar led Dharmadev Infrastructure group, a renown developer firm headquartered in Ahmedabad.

The raids are believed regarding DHFL scam. it is learnt that DHFL (Dewan Housing Financing Ltd) had given Rs. 1160 crore loan to Thakkar that has not been repaid. Other accusations are believed regarding investment in foreign land and non-payment of service tax collected from consumers to government.

Thakkar was arrested in year 2014 in a case pertaining to alleged non-payment of Rs. 2.50 crore service tax.

According to a report The loans were sanctioned to group companies of the Dharmadev group, owned by Umang Thakkar, around the time of Gujarat elections in December 2017. Ambica Leasing and Estates Pvt Ltd, MH Infraprojects Limited, NetraMedilink Pvt Ltd and Varij Builders Pvt Ltd — all showing registered address as Dharmadev House near Shyamal Crossroads — got loans worth Rs 120 crore each totalingRs 480 crore from DHFL. While SatyasankalpBuildcon LLP, registered at the same address, received loan of Rs 680 crore. The projects for which the loans were sanctioned — including Swaminarayan Business Park in Narol — were cancelled or suspended. Ahmedabad Municipal Corporation sealed the Narol project because it did not have NA (Non-Agriculture) and BU (Building Use) permission.