28 November, 2020

A Rs 3-Crore Payoff For The Nephew

Raj Thackeray's links with a Bombay stockbroker accused in the securities scam embarrasses the family

A Rs 3-Crore Payoff For The Nephew
outlookindia.com
-0001-11-30T00:00:00+05:53

SHIV Sena supremo Bal Thackeray's lips are sealed on all queries about nephew Raj's links with Pallav Sheth, one of the accused in the securities scam, now under investigation of the special court of Justice S.N. Variava.

Sheth's books of account submitted to the court shows that Raj Thackeray, his wife Sharmila and his father-in-law received more than Rs 3 crore from front companies owned by the broker. Also among those who received funds from the five companies belonging to Sheth are the Kini case accused—builder Laxmichand Shah and son Suman; Ashutosh Rane, a classmate of Raj who took the rap in the Kini case while Raj was declared innocent by the CBI.

It is now becoming apparent that Raj's name on Sheth's books might not just be a simple case of loans and payoffs. Details of the payoffs find mention in the request by the court custodian to Justice Variava to order a stay on further business dealings by Sheth's companies, Claire Chemicals, Magan Hotels, Mallika Foods and a securities and plastics company. This request was made...

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