ED lens on company tied to Shiv Sena leader's son, Raj Thackeray

MUMBAI: The Enforcement Directorate (ED) and Serious Fraud Investigation Office are probing IL&FS group's loan and equity investment amounting to Rs 860 crore in Kohinoor CTNL, the company constructing Mumbai's Kohinoor Square towers. The company was founded by Unmesh Joshi, son of former Maharashtra CM and senior Shiv Sena leader Manohar Joshi.

Agencies are probing the shareholding and investment in Kohinoor CTNL for which a consortium was formed by Unmesh, MNS chief Raj Thackeray and his business partner Rajan Shirodkar to purchase Kohinoor Mills Number 3 for Rs 421 crore.

Sources said IL&FS group had invested Rs 225 crore in the firm, representing half the equity. In 2008, IL&FS surrendered its shares for only Rs 90 crore and booked a loss. The same year, Thackeray, too, exited the consortium by selling his shares. After surrendering its shares, IL&FS advanced loans to Kohinoor CTNL, which it allegedly failed to repay. In 2011, Kohinoor entered into a pact to sell some commercial-residential premises in Kohinoor Sq to IL&FS and settled the Rs 500 crore pending loan amount.Registration of this agreement was executed only in 2017. After the settlement, IL&FS lent another Rs 135 crore to Kohinoor CTNL, on which it defaulted.


The ED recorded the statement of Kohinoor CTNL's CFO and may call others for further explanation.

Despite repeated attempts, Unmesh could not be contacted for comment.