ED Seizes Rs 17.74 Crore Navi Mumbai Land in High-Profile Money Laundering Probe
The Enforcement Directorate (ED) has taken decisive action in a significant money laundering investigation, attaching three prime land parcels located in Uran and Ulwe, Navi Mumbai. The properties, with an estimated value of approximately Rs 17.74 crore, are registered under the names of local politician J M Mhatre and his wife. This move forms a crucial part of the ongoing probe into allegations of illegal forest land acquisition, fraudulent transfer to a government authority, and wrongful compensation claims.
Allegations of Systematic Land Fraud and Illegal Compensation
According to the ED's detailed statement, the case revolves around land originally belonging to the Nizam, which the Maharashtra government acquired in 1975 under the Maharashtra Private Forests (Acquisition) Act. Official land records, specifically the 7/12 extract, subsequently listed the Maharashtra forest department as the legitimate owner of this property, which spans approximately 376 acres.
The central allegation is that the mutation entries for this substantial tract of land were deliberately tampered with. Investigators claim that the owner's name was illegally altered, with the forest department's designation being replaced by that of the accused individuals. This fraudulent alteration allegedly paved the way for further illegal activities.
The ED asserts that portions of this land were then unlawfully sold to the National Highways Authority of India (NHAI). As a result of this illicit sale, the accused are alleged to have received illegal compensation amounting to a staggering Rs 42.4 crore from the government authority.
Proceeds of Crime and Wider Financial Investigation
The investigation has traced the flow of these allegedly illicit funds. The ED states that the Rs 42.4 crore in compensation money was utilized for multiple purposes, including the acquisition of immovable property, the repayment of various loans, and covering the operational business expenses of companies linked to J M Mhatre and his family members.
When contacted for comment regarding the recent attachment of properties, J M Mhatre stated that he was unaware of this latest development in the case.
Ongoing Probe and Previous Enforcement Actions
This case is being investigated against J M Mhatre of J M Mhatre Infrastructure and another individual, Saiyyed Mohammad Abdul Hamid Qadri. The ED's probe has been active for some time, with significant enforcement actions taken in the past year.
Last year, the agency conducted coordinated searches at multiple locations across Mumbai and Navi Mumbai. During these operations, authorities seized unaccounted cash totaling Rs 16.5 lakh. Furthermore, the ED implemented freezing orders on bank balances, fixed deposits, and mutual fund holdings, with the combined value of these frozen assets approximating Rs 43.78 crore.
This recent attachment of the three land parcels is not the first property seizure in this case. The ED had previously attached five other properties, with a collective worth of Rs 7.1 crore, as part of the same money laundering investigation. The cumulative value of assets now attached or frozen in this probe underscores the scale of the alleged financial irregularities being examined.
