Uddhav supports cousin Raj Thackeray ahead of his questioning by ED in Kohinoor CTNL loan default case
Raj Thackeray was one of the founders of Kohinoor CTNL that received investments in loan and equity from real estate company IL&FS. Kohinoor has defaulted on the loans.
Shiv Sena chief Uddhav Thackeray came out in support of estranged cousin and Maharashtra Navnirman Sena chief Raj Thackeray, who is scheduled to appear before the Enforcement Directorate on August 22 in connection with the IL&FS group’s loan and equity investment in a real estate development company linked to Raj, called Kohinoor CTNL.
Senior Sena leader and former Maharashtra CM Manohar Joshi’s son Unmesh Joshi is the primary founder of Kohinoor CTNL and was questioned by the ED on Monday, Aug. 19.
Thackeray, along with Joshi, was one of the founding partners of Kohinoor CTNL, which received investments worth 860 crores from IL&FS. Raj was one of the partners in a consortium that purchased Kohinoor Mill no 3 in 2005. Kohinoor CTNL is accused of defaulting on the loan.
In 2005, Unmesh Joshi along with IL&FS and Raj Thackeray-owned Matoshree Construction jointly bid for the National Textile Corporation’s Kohinoor Mill, buying the 4.8-acre property for ₹421 crore. Raj had subsequently exited the consortium in 2008.
In September 2018, IL&FS went bust and several of its executives were arrested. The ED was probing suspected money laundering of IL&FS funds during which Thackeray’s name cropped up.
The ED had issued summons to Raj Thackeray on August 16 asking him to join investigations on August 22 at its Ballard Pier based office.
Uddhav, on Wednesday, expressed confidence that nothing will come out of the probe. “I do not think anything will come out from the ED inquiry. We will wait for a day or two and see,” he told reporters at his residence Matoshree in Mumbai.
Several MNS party workers had expressed hope that Sena chief would back his cousin Raj in such times as the MNS chief has always maintained personal rapport with the family despite walking out of the Shiv Sena to form his own party in 2005.
MNS claims ED summons were a result of political vendetta and had threatened with a show of strength outside ED office before Raj Thackeray advised his party men against it. The Mumbai Police, however, are not taking any chances and have stationed personnel outside ED’s Ballard estate office and increased vigil.
