Iqbal Mirchi money laundering case: Raj Kundra appears before ED, Shilpa Shetty may be questioned next

Raj Kundra, businessman and husband of actor Shilpa Shetty, has appeared before the Enforcement Directorate (ED) in a money laundering case against late D-Company gangster Iqbal Mirchi. The central probe agency is looking at Kundra's purported dealings with Ranjeet Singh Bindra and a firm called Bastian Hospitality in connection with the case.

The investigation is being conducted under the Prevention of Money Laundering Act (PMLA) and is based on multiple Mumbai Police FIRs and raids that ED has conducted in this case over the last few months. Bindra, who was arrested on October 11 and currently in judicial custody, was allegedly working at the behest of Mirchi and played a crucial important role in negotiating property deals for him.

In the course of its investigation, ED had unearthed transactions between real estate firm RKW Developers Pvt, in which Bindra is a Director, and Essential Hospitality where actor Shilpa Shetty is one of the directors.

Kundra had earlier denied any wrongdoing in these business dealings. "In 2011, I sold a plot that I owned near the airport including the company to RKW developers. Everything is documented and verified by my CA. This is the be-all and end-all of the deal. Any loans given to the company in question was after we sold the company to the new owner. We sold a zero-debt company! We have never taken a single loan it was taken by the new owners of the company!" Kundra had said in a statement.

Mirchi, who died in 2013 in London, is alleged to be the right-hand man of global terrorist Dawood Ibrahim, who is accused of drug trafficking and extortion. The ED has filed a criminal and money laundering charges against Mirchi, his family and others and is probing alleged illegal dealings in purchase and sale of costly real estate assets in Mumbai.

After Kundra, Shetty may also be called for questioning, sources told Moneycontrol. They added that ED’s bone of contention is the investments made and interest free loans issued to Essential Hospitality by RKW Developers.

Kundra is a promoter of listed Viaan Technologies, which produces electronic games.